Financial Shocks and Labor Market Fluctuations

Francesco Zanetti

No Number-746, Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper investigates the effect of …financial shocks using an estimated gen-eral equilibrium model that links the …firm's ‡flows of …financing with labor marketvariables. The results show that fi…nancial shocks have sizeable effects on …financialvariables, vacancy posting, unemployment and wages. Shocks to the job destruc-tion rate are important in describing ‡fluctuations in unemployment. The analysisalso investigates the underlying driving forces of some key comovements in thedata.

Keywords: Business cycle; labor market frictions; financial shocks. (search for similar items in EconPapers)
JEL-codes: E32 E44 (search for similar items in EconPapers)
Date: 2015-05-27
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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