Assets bubbles, unemployment, and financial market frictions

Arbeitspapier

A tractable model with infinitely lived agents is constructed for the examination of bubbles and unemployment. It is demonstrated that the presence of bubbles stimulates capital accumulation and reduces unemployment. The presence of bubbles also changes the effects of government policies that target unemployment and welfare conditions in the labor market. The main findings are as follows: (i) the presence of bubbles is more beneficial to an economy with severe credit constraints; (ii) the presence of bubbles mitigates the negative effects of taxation and unemployment benefits on unemployment and welfare; and (iii) these mitigation effects decrease as credit constraints are relaxed.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ISER Discussion Paper ; No. 1096

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Unemployment: Models, Duration, Incidence, and Job Search ; One, Two, and Multisector Growth Models ; Monetary Growth Models
• Thema: Asset bubbles ; Unemployment ; Labor-market matching frictions ; Financial frictions

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Hashimoto, Ken-ichi ; Im, Ryonghun ; Kunieda, Takuma ; Shibata, Akihisa
• Ereignis: Veröffentlichung
• (wer): Osaka University, Institute of Social and Economic Research (ISER)
• (wo): Osaka
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/230500
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ