| 000 | 01877nab a2200349 c 4500 | ||
|---|---|---|---|
| 003 | ES-MaIEF | ||
| 005 | 20190829110635.0 | ||
| 007 | ta | ||
| 008 | 190829s2019 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 041 | _aeng | ||
| 100 | 1 |
_923512 _aKehoe, Patrick J. |
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| 245 | 0 |
_aDebt constraints and employment _c Patrick J. Kehoe, Virgiliu Midrigan, Elena Pastorino |
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| 260 | _c2019 | ||
| 500 | _aDisponible también en formato electrónico en la Biblioteca del IEF. | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aDuring the Great Recession, US regions that experienced large declines in household debt also experienced large drops in consumption, employment, and wages. We develop a search and matching model in which tighter debt constraints raise the cost of investing in new job vacancies and so reduce job-finding rates and employment. On-the-job human capital accumulation is critical to generating sizable drops in employment: it increases the duration of the benefit flows from posting vacancies, thereby amplifying the employment drop from a credit tightening 10-fold relative to the standard model. Our model reproduces the salient cross-regional features of the US Great Recession. | ||
| 650 | 4 |
_948198 _aRECESIONES ECONOMICAS |
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| 650 | 4 |
_955516 _aCRISIS FINANCIERA |
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| 650 | 4 |
_956570 _aSOBREENDEUDAMIENTO DE PARTICULARES |
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| 650 | 4 |
_940658 _aCONSUMO |
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| 650 | 4 |
_948220 _aREDUCCION |
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| 650 | 4 |
_955892 _aEMPLEO |
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| 650 |
_aESTADOS UNIDOS _942888 |
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| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
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| 700 | 1 |
_967471 _aMidrigan, Virgiliu |
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| 700 | 1 |
_967472 _aPastorino, Elena |
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| 773 | 0 |
_9160974 _oOP 229/2019/4 _tJournal of Political Economy _w(IEF)17571 _x 0022-3808 _g v. 127, n. 4, August 2019, p. 1926-1991 |
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| 856 | _uhttps://www.journals.uchicago.edu/doi/pdfplus/10.1086/701608 | ||
| 942 | _cART | ||
| 999 |
_c141088 _d141088 |
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