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This paper analyses aggregate labour dynamics during the global financial crisis in Japan and the role of nonstandard …
Persistent link: https://www.econbiz.de/10011347289
The global financial and economic crisis – including two euro area recessions in 2008-2009 and 2011-2013 – has had a heavy impact on euro area labour markets. A notable feature throughout the crisis has been the considerable degree of cross-country heterogeneity of labour market adjustments...
Persistent link: https://www.econbiz.de/10013030869
This paper argues that firms' balance sheets were instrumental in the transmission of consumer demand shocks during the … firms experienced significantly larger employment losses in response to declines in local consumer demand. These results are … with more highly levered firms experienced significantly larger declines in employment in response to local consumer demand …
Persistent link: https://www.econbiz.de/10012971936
In the aftermath of the U.S. financial crisis, both a sharp drop in employment and a surge in corporate cash have been observed. In this paper, based on U.S. data, we document that the negative relationship between the corporate cash ratio and employment is systematic, both over time and across...
Persistent link: https://www.econbiz.de/10010258803
We study the effects of financial shocks on labor markets in a model with both labor and financial frictions, two types of productive capital, physical and intangible, and in which only the former serves as collateral. A tighter borrowing constraint in this environment leads to a fall in credit...
Persistent link: https://www.econbiz.de/10011612004
SMEs experiencing a negative demand shock or facing severe product market competition. Finally, results show that credit …
Persistent link: https://www.econbiz.de/10012940882
constraints have been essentially detrimental for employment among SMEs experiencing a negative demand shock or facing strong …
Persistent link: https://www.econbiz.de/10012929109
constraints have been essentially detrimental for employment among SMEs experiencing a negative demand shock or facing strong …
Persistent link: https://www.econbiz.de/10012130309