Endogenous Participation in Imperfect Labour and Capital Markets

Spiros Bougheas and Richard Upward

Discussion Papers from University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM)

Abstract: We introduce endogenous participation in an economy with labor and financial market frictions. Agents can choose to be workers or entrepreneurs or not to participate in any market. We examine how the transition rates between these three options are affected by productivity shocks (business cycle conditions) and by changes in the level of market frictions (cross-country institutional quality variations).

Keywords: endogenous participation; labor market frictions; financial market frictions (search for similar items in EconPapers)
Date: 2012
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Journal Article: Endogenous participation in imperfect labor and capital markets (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:not:notcfc:12/13

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