FINANCIAL SHOCKS, JOB DESTRUCTION SHOCKS, AND LABOR MARKET FLUCTUATIONS

被引：11
|
作者：
Zanetti, Francesco [1 ]
机构：
[1] Univ Oxford, Oxford, England
来源：
MACROECONOMIC DYNAMICS | 2019年 / 23卷 / 03期
关键词：
Business Cycle; Labor Market Frictions; Financial Shocks; Job Destruction Shocks; BORROWING CONSTRAINTS; CYCLICAL BEHAVIOR; BUSINESS CYCLES; MONETARY-POLICY; UNEMPLOYMENT; FRICTIONS; DYNAMICS; SEARCH; CREDIT; PRICES;
D O I：
10.1017/S1365100517000190
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates the effect of financial shocks using a general equilibrium model that links the firm's flows of financing with labor market variables. The results show that financial shocks have sizeable effects on debt, dividend payout, and wages. Shocks to the job destruction rate are important in explaining fluctuations in unemployment. The analysis also investigates the underlying driving forces of some key comovements in the data and finds shocks to the job destructions rate important.
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页码：1137 / 1165
页数：29
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