Financial frictions, the housing market, and unemployment

DOI10.1016/J.JET.2015.07.008MaRDI QIDQ282152zbMATH OpenOpenAlexFDO

Authors Nicolas Petrosky-Nadeau, Guillaume Rocheteau, William A. Branch

Publication date 12 May 2016

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL http://www.frbsf.org/economic-research/publications/working-papers/wp2014-26.pdf

zbMATH Keywords

creditunemploymentlimited commitmentliquidity

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Matching models (91B68) Multisectoral models in economics (91B66)

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Cites work

• A Model of Money and Credit, with Application to the Credit Card Debt Puzzle
• Collateral secured loans in a monetary economy
• Convergence in monetary inflation models with heterogeneous learning rules
• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• Excess Volatility and Predictability of Stock Prices in Autoregressive Dividend Models with Learning
• Geographic reallocation and unemployment during the great recession: the role of the housing bust
• Housing liquidity, mobility, and the labour market
• INDIVIDUAL EXPECTATIONS AND AGGREGATE BEHAVIOR IN LEARNING-TO-FORECAST EXPERIMENTS
• Imperfect knowledge, liquidity and bubbles
• Information, liquidity, asset prices, and monetary policy
• Job Creation and Job Destruction in the Theory of Unemployment
• Money and capital as competing media of exchange
• Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium
• Pairwise trade, asset prices, and monetary policy
• Search for a monetary propagation mechanism
• TFP during a credit crunch
• The consequences of mortgage credit expansion: evidence from the U.S. mortgage default crisis
• The credit crunch and fall in employment during the Great Recession

Cited in

(20)

• Borrowing constraints, collateral fluctuations, and the labor market
• Liquidity constraints in the U.S. housing market
• The Financial Accelerator: Evidence from International Housing Markets
• Capital concentration and wage inequality
• Risk shocks and housing supply: a quantitative analysis
• HETEROGENEITY, FRICTIONAL ASSIGNMENT, AND HOME‐OWNERSHIP
• Are house prices responsible for unemployment persistence?
• Financial liberalization and short-run housing price dynamics
• Financial development, unemployment volatility, and sectoral dynamics
• Financial risk and unemployment
• Unemployment, credit rationing, and capital accumulation: A tale of two frictions
• Imperfect knowledge, liquidity and bubbles
• Geographic reallocation and unemployment during the great recession: the role of the housing bust
• Bounded rationality and unemployment dynamics
• Household debt and labor market fluctuations
• Housing liquidity, mobility, and the labour market
• Money mining and price dynamics: the case of divisible currencies
• Housing search frictions and optimal search
• What explains the 2007-2009 drop in employment?
• The role of trading frictions in financial markets

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