Welfare Cost of Fluctuations When Labor Market Search Interacts with Financial Frictions
We study the welfare costs of business cycles in a search and matching model with financial frictions. The model replicates the volatility on labor and financial markets. Business cycle costs are sizable. Indeed, the interactions between labor market and financial frictions magnify the impact of sho...
Saved in:
| Volume: | 51 |
|---|---|
| Main Author: |
ILIOPULOS, ELENI
LANGOT, FRANÇOIS SOPRASEUTH, THEPTHIDA |
| Format: | Journal Article |
| Language: | English |
| Zielgruppe: |
Academic |
| Place of publication: |
HOBOKEN WILEY 01.12.2019 Wiley Subscription Services, Inc |
| published in: | Journal of money, credit and banking Vol. 51; no. 8; pp. 2207 - 2237 |
| Data of publication: | December 2019 |
| ISSN: |
0022-2879 1538-4616 |
| EISSN: |
1538-4616 |
| Discipline: | Economics Business |
| Bibliography: |
We thank Guido Ascari, Paul Beaudry, Florin Bilbiie, Matteo Cacciatore, Daniel Cohen, Martin Ellison, Andrea Ferrero, Pietro Garibaldi, Céline Poilly, Nicolas Petrosky‐Nadeau, Vincenzo Quadrini, Xavier Ragot, Federico Ravenna, Gilles Saint‐Paul, Etienne Wasmer, Pierre‐Olivier Weill, and Francesco Zanetti for helpful comments as well as seminar participants at Paris School of Economics macroworkshop, Cepremap, University of Lille I, University of Lyon ‐ Gate, HEC Montreal, T2M Conference, Search and Matching Annual Conference, ScPo Conference in honor of C. Pissarides, TEPP Conference, SED Conference, and Oxford macroeconomics seminar. E. Iliopulos and T. Sopraseuth thank Labex MME‐DII (ANR‐11‐LBX‐0023‐01). F. Langot acknowledges the support of PANORisk. T. Sopraseuth acknowledges the support of the Institut Universitaire de France . |
| Subjects: | |
| Online Access: |
Fulltext |
| Database: | Social Sciences Citation Index Web of Knowledge Web of Science - Social Sciences Citation Index – 2019 Web of Science CrossRef Database information Databases - DBIS |