Bubbles, wage rigidity, and persistent slumps

详细信息    查看全文

• 作者：Andrew Hanson ; Toan Phan ; ^phan@unc.edu
• 关键词：E2 ; E3 ; E4
• 刊名：Economics Letters
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：151
• 期：Complete
• 页码：66-70
• 全文大小：840 K
• 卷排序：151

文摘

Highlight the interaction between the collapse of rational bubbles and downward wage rigidity. Analytically characterize depth and duration of post-bubble recessions. Higher credit growth during bubble episodes leads to deeper and longer recessions.