Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - 2012
shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … reduction of liquidity to firms. Next we draw on sector-level data on employment and leverage in a number of OECD countries at … quarterly frequencies to assess whether highly leveraged equilibria originate more employment adjustment under financial …