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Financial Market Imperfections, Labour Market Imperfections, and Business Cycles

Arnold, Lutz G. (2002) Financial Market Imperfections, Labour Market Imperfections, and Business Cycles. The Scandinavian Journal Of Economics 104 (1), pp. 105-124.

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Abstract

A Greenwald–Stiglitz (1993a) style rational expectations business cycle model is introduced in which uncorrelated productivity shocks or monetary shocks generate autocorrelated employment fluctuations due to financial constraints. The propagation mechanism is carefully modelled: because of capital market imperfections (only standard debt contracts are traded), firms' labour demand changes in ...

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Item Type:Article
Date:2002
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Research groups and research centres:Immobilien- und Kapitalmärkte
Identification Number:
ValueType
10.1111/1467-9442.00274DOI
Keywords:Finance constraints • business fluctuations • unemployment • debt deflation
Subjects:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Unknown
Owner: Universitätsbibliothek Regensburg
Deposited On:24 Jun 2010 05:34
Last Modified:23 Sep 2010 07:18
Item ID:15556
Owner Only: item control page
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