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 à la Kiyotaki & Moore (1997). We investigate the mechanisms thatnallow the model to replicate the volatility on labor and financial markets and show that business cycle costs are sizable. We fir...
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|Database:||Hyper Article en Ligne (HAL)
Hyper Article en Ligne (HAL) (Open Access)
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