Journal article icon

Journal article

Financial shocks, job destruction shocks, and labor market fluctuations

Abstract:
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.
Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

Actions


Access Document


Files:
Publisher copy:
10.1017/S1365100517000190

Authors


More by this author
Department:
Wadham College
Role:
Author
Publisher:
Cambridge University Press Publisher's website
Journal:
Macroeconomic Dynamics Journal website
Volume:
23
Issue:
3
Pages:
1137-1165
Publication date:
2017-07-17
Acceptance date:
2017-01-23
DOI:
EISSN:
1469-8056
ISSN:
1365-1005
Pubs id:
pubs:694247
URN:
uri:3121528e-ab8a-4d4b-a097-f7ce5cb8b6d2
UUID:
uuid:3121528e-ab8a-4d4b-a097-f7ce5cb8b6d2
Local pid:
pubs:694247

Terms of use


Metrics


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP