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https://hdl.handle.net/10419/21022
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DC Field | Value | Language |
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dc.contributor.author | Wasmer, Etienne | en |
dc.contributor.author | Weil, Philippe | en |
dc.date.accessioned | 2009-01-28T16:18:42Z | - |
dc.date.available | 2009-01-28T16:18:42Z | - |
dc.date.issued | 2000 | - |
dc.identifier.uri | http://hdl.handle.net/10419/21022 | - |
dc.description.abstract | Labor 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 |
dc.language.iso | eng | en |
dc.publisher | |aInstitute for the Study of Labor (IZA) |cBonn | en |
dc.relation.ispartofseries | |aIZA Discussion Papers |x179 | en |
dc.subject.jel | E51 | en |
dc.subject.jel | J64 | en |
dc.subject.jel | G24 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Credit and search frictions | en |
dc.subject.keyword | unemployment | en |
dc.subject.keyword | monetary policy | en |
dc.subject.stw | Arbeitslosigkeit | en |
dc.subject.stw | Kreditmarkt | en |
dc.subject.stw | Kreditrationierung | en |
dc.subject.stw | Suchtheorie | en |
dc.subject.stw | Arbeitsmarkttheorie | en |
dc.subject.stw | Arbeitsuche | en |
dc.subject.stw | Informationskosten | en |
dc.subject.stw | Makroökonomischer Einfluß | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Theorie | en |
dc.subject.stw | OECD-Staaten | en |
dc.title | The Macroeconomics of Labor and Credit Market Imperfections | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 835294331 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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