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dc.contributor.authorWesselbaum, Dennis
dc.date.available2016-02-15T01:51:28Z
dc.date.copyright2016-02
dc.identifier.citationWesselbaum, D. (2016). Jobless Recoveries: The Interaction between Financial and Search Frictions (Economics Discussion Papers Series No. 1603). University of otago. Retrieved from http://hdl.handle.net/10523/6215en
dc.identifier.issn1178-2293
dc.identifier.urihttp://hdl.handle.net/10523/6215
dc.description.abstractThis paper establishes a link between labor market frictions and financial market frictions. We present empirical evidence about the relation between search and financial frictions. Then, we build a stylized DSGE model that features this channel. Simulation excercises show that the model with this channel generates a strong internal propagation mechanism, replicates stylized labor market effects of the Great Recession, and, most importantly, creates a jobless recovery.en_NZ
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherUniversity of otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.rightsAttribution-NonCommercial-ShareAlike 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/*
dc.subjectDSGEen_NZ
dc.subjectJobless Recoveryen_NZ
dc.subjectLabor Marketen_NZ
dc.subjectFinancial Frictionsen_NZ
dc.titleJobless Recoveries: The Interaction between Financial and Search Frictionsen_NZ
dc.typeDiscussion Paperen_NZ
dc.date.updated2016-02-15T01:18:11Z
otago.schoolOtago Business School / Department of Economicsen_NZ
otago.openaccessOpenen_NZ
otago.relation.number1603en_NZ
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Attribution-NonCommercial-ShareAlike 4.0 International
Except where otherwise noted, this item's licence is described as Attribution-NonCommercial-ShareAlike 4.0 International