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Why are financial crises associated with a sustained rise in unemployment? We develop a tractable model with frictions in both credit and labor markets to study the aggregate and micro-level implications of a credit crunch—i.e., a sudden tightening of collateral constraints. When we simulate a...
Persistent link: https://www.econbiz.de/10012564299
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Why are financial crises associated with a sustained rise in unemployment? We develop a tractable model with frictions in both credit and labor markets to study the aggregate and micro-level implications of a credit crunch--i.e., a tightening of collateral constraints. When we simulate a credit...
Persistent link: https://www.econbiz.de/10012458667
Persistent link: https://www.econbiz.de/10012171864
Trotz des größten Wirtschaftseinbruchs in der deutschen Nachkriegsgeschichte hat die internationale Krise die Bürger kaum erreicht. Das wird sich mittelfristig bedrohlich ändern, wenn es nicht gelingt, rechtzeitig eine aufziehende Kreditklemme und eine bedrohlich wachsende Staatsverschuldung...
Persistent link: https://www.econbiz.de/10003916458
This article takes advantage of access to confidential matched bank-firm data relative to the Belgian economy to investigate how employment decisions of small- and medium-sized enterprises (SMEs) have been affected by credit constraints in the wake of the Great Recession. Variability in banks'...
Persistent link: https://www.econbiz.de/10012940882
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This article takes advantage of access to confidential matched bank-firm data relative to the Belgian economy to investigate whether and how employment decisions of small- and medium-sized enterprises (SMEs) have been affected by credit constraints in the wake of the Great Recession. Variability...
Persistent link: https://www.econbiz.de/10011772124
Auswirkungen der Finanzkrise von 2007 auf die Vergabe von Bankkrediten. Während sich der erste Artikel ausschließlich mit … Finanzkrise. Im Gegensatz dazu werden diese beiden Forschungsschwerpunkte im zweiten Artikel zusammengeführt. Viele real … existierende Märkte, wie etwa der Arbeits- oder der Kreditmarkt, unterscheiden sich grundlegend von der in der ökonomischen Theorie …
Persistent link: https://www.econbiz.de/10011853282
This paper develops a two-country multi-frictional model where the freeze on liquidity access to commercial banks in one country raises unemployment rates via credit rationing in both countries. The expenditure-switching channel, whereby asymmetric monetary shocks traditionally lead to negative...
Persistent link: https://www.econbiz.de/10011346436