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https://hdl.handle.net/10419/36120
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Dromel, Nicolas | en |
dc.contributor.author | Kolakez, Elie | en |
dc.contributor.author | Lehmann, Etienne | en |
dc.date.accessioned | 2009-12-04 | - |
dc.date.accessioned | 2010-07-07T12:06:12Z | - |
dc.date.available | 2010-07-07T12:06:12Z | - |
dc.date.issued | 2009 | - |
dc.identifier.pi | urn:nbn:de:101:1-20091104951 | en |
dc.identifier.uri | http://hdl.handle.net/10419/36120 | - |
dc.description.abstract | In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its persistence. For this purpose, we first develop a theoretical model based on the equilibrium matching framework of Mortensen and Pissarides (1999) and Pissarides (2000) where we introduce credit constraints. We show these credit constraints not only increase steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a country panel dataset of 20 OECD countries. Our results suggest that credit market imperfections significantly increase the persistence of unemployment. | en |
dc.language.iso | eng | en |
dc.publisher | |aInstitute for the Study of Labor (IZA) |cBonn | en |
dc.relation.ispartofseries | |aIZA Discussion Papers |x4501 | en |
dc.subject.jel | E24 | en |
dc.subject.jel | E44 | en |
dc.subject.jel | J08 | en |
dc.subject.jel | J64 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Credit markets | en |
dc.subject.keyword | labor markets | en |
dc.subject.keyword | unemployment | en |
dc.subject.keyword | credit constraints | en |
dc.subject.keyword | search frictions | en |
dc.subject.stw | Arbeitslosigkeit | en |
dc.subject.stw | Hysteresis | en |
dc.subject.stw | Verschuldungsrestriktion | en |
dc.subject.stw | Theorie der Arbeitslosigkeit | en |
dc.subject.stw | Arbeitsuche | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | OECD-Staaten | en |
dc.title | Credit constraints and the persistence of unemployment | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 614352827 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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