exceeded, and eventually real wage growth began to accumulate for workers across the distribution. In fact, the business cycle … (including recession and recovery) beginning in December 2007 was one of the better periods of real wage growth in many decades …

, 1995-2007, whereas the sign of that correlation reversed completely during the crisis, 2008-2012. Finally, we relate this …

reflecting overall improvements in economic and social wellbeing, captured in part by real earnings growth, although it fell …

for wage growth are the non-employment rate and the under-employment rate. Both are high and act as brakes on wage growth …

levels against losses in current income caused by economic downturns like the present financial crisis. We use a multi …

.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on … lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit … constraints impede small business growth prior to loan receipt. We also investigate the variation in estimated employment effects …

entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy …, lenders may charge higher interest rates or ration credit supply, which can hamper entrepreneurship. Both aspects of a more …