Financial Amplification of Labor Supply Shocks

Financial Amplification of Labor Supply Shocks
We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of production. Borrowing capacity is restricted by the value of capital, generating a pecuniary externality when financing constraints bind.... READ MORE...

Publication date: September 2020
ISBN 9781513557311
$18.00

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