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...
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| 格式: | 杂志 |
| 语言: | English |
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Washington, D.C. :
International Monetary Fund,
2020.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2020/189 |
| 在线阅读: | Full text available on IMF |