Bakker, Bas B.; Korczak, Marta; Krogulski, Krzysztof - 2019
lead to unemployment surges, as firms are forced to cut costs when financing becomes expensive or is no longer available …. As a result, all countries with risk premium shocks saw unemployment surge, even as euro area core countries managed to … contain unemployment as firms hoarded labor during the downturn. Most striking, wage bills in euro area crisis countries and …
