BIBFRAME Work

Title

Financial markets and unemployment

Type

• Text
• Monograph

Contribution

• Trigari, Antonella (contributor)
• Quadrini, Vincenzo (contributor)
• Monacelli, Tommaso (author)
• National Bureau of Economic Research (contributor)

Language

• English

Classification

LCC: HB1 (Assigner: dlc) (Status: used by assigner)

Content

• text

Supplementary content

• bibliography

Summary

"We study the importance of financial markets for (un)employment fluctuations in a model with searching and matching frictions where firms issue debt under limited enforcement. Higher debt allows employers to bargain lower wages which in turn increases the incentive to create jobs. The transmission mechanism of 'credit shocks' is fundamentally different from the typical credit channel and the model can explain why firms cut hiring after a credit contraction even if they have not shortage of funds for hiring workers. The theoretical predictions are consistent with the estimation of a structural VAR whose identifying restrictions are derived from the theoretical model"--National Bureau of Economic Research web site.

Authorized Access Point

Monacelli, Tommaso. Financial markets and unemployment

Admin Metadata

• Date: 2026-09-11T20:18:44.416715+00:00
• Agent: cbc
• Status: c
• Derived from: 17062187

Admin Metadata

• Date: 2026-09-11
• Cataloger id: Unknown
• Description level: http://id.loc.gov/ontologies/bibframe-2-6-0/
• Description language: eng
• Description authentication: pcc