Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/21022
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dc.contributor.authorWasmer, Etienneen_US
dc.contributor.authorWeil, Philippeen_US
dc.date.accessioned2009-01-28T16:18:42Z-
dc.date.available2009-01-28T16:18:42Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/21022-
dc.description.abstractLabor market frictions are not the only possible factor responsible for high unemployment. Creditmarket imperfections, driven by microeconomic frictions and impacted upon by macroeconomicfactors such as monetary policy, could also be to blame. This paper shows that labor and creditmarket imperfections interact in a complementary way - which may explain why European andUS unemployment differ so much when labor markets have become more similar at the marginin Europe and the US.To develop this idea, we build a search model that treats credit and labor market imperfectionsin a symmetrical way. We introduce specificity in credit relationships, and assume that credit topotential entrepreneurs is rationed due to endogenous search frictions, in the spirit of Diamond(1990). These imperfections mirror the job search frictions that we introduce, – la Mortensen-Pissarides (1994), in the labor market.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aIZA Discussion paper series |x179en_US
dc.subject.jelE51en_US
dc.subject.jelJ64en_US
dc.subject.jelG24en_US
dc.subject.ddc330en_US
dc.subject.keywordCredit and search frictionsen_US
dc.subject.keywordunemploymenten_US
dc.subject.keywordmonetary policyen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwKreditmarkten_US
dc.subject.stwKreditrationierungen_US
dc.subject.stwSuchtheorieen_US
dc.subject.stwArbeitsmarkttheorieen_US
dc.subject.stwArbeitsucheen_US
dc.subject.stwInformationskostenen_US
dc.subject.stwMakroökonomischer Einflußen_US
dc.subject.stwSchätzungen_US
dc.subject.stwTheorieen_US
dc.subject.stwOECD-Staatenen_US
dc.titleThe Macroeconomics of Labor and Credit Market Imperfectionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn835294331en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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