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ファイル | 記述 | サイズ | フォーマット | |
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DP1037.pdf | 9.47 MB | Adobe PDF | 見る/開く |
タイトル: | Asset Bubbles, Unemployment, and Financial Market Frictions |
著者: | Hashimoto, Ken-ichi Im, Ryonghun Kunieda, Takuma Shibata, Akihisa |
キーワード: | Asse bubbles Unemployment Labor-market mat ching frictions Financial frictions |
発行日: | 31-Jul-2020 |
出版者: | Institute of Economic Research, Kyoto University |
誌名: | KIER Discussion Paper |
巻: | 1037 |
開始ページ: | 1 |
終了ページ: | 50 |
抄録: | 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. |
URI: | http://hdl.handle.net/2433/262354 |
関連リンク: | https://www.kier.kyoto-u.ac.jp/publication/?cat=en |
出現コレクション: | KIER Discussion Paper (英文版) |
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