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220928 ||| eng |
| 020 |
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|a 9781513557311
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| 100 |
1 |
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|a Biljanovska, Nina
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| 245 |
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0 |
|a Financial Amplification of Labor Supply Shocks
|c Nina Biljanovska, Alexandros Vardoulakis
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2020
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Labor taxes
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Agriculture: Aggregate Supply and Demand Analysis
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Collateral
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Supply and demand
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| 653 |
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|a Demand and Supply of Labor: General
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| 653 |
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|a Health Behavior
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| 653 |
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|a Health
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| 653 |
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|a Economic theory
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| 653 |
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|a Labor Economics: General
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| 653 |
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|a Prices
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| 653 |
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|a Infectious & contagious diseases
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| 653 |
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|a Income tax
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| 653 |
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|a Labor economics
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| 653 |
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|a Loans
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| 653 |
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|a Income economics
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| 653 |
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|a Personal Income and Other Nonbusiness Taxes and Subsidies
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| 653 |
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|a Economic theory & philosophy
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| 653 |
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|a Taxes
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| 653 |
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|a Labor supply
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| 653 |
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|a Economic Theory
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Mortgages
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| 653 |
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|a Financial institutions
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| 653 |
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|a Labour
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| 653 |
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|a Covid-19
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| 653 |
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|a Supply shocks
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| 653 |
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|a Taxation
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| 653 |
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|a Banks
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| 653 |
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|a Labor
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| 653 |
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|a Welfare & benefit systems
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| 653 |
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|a Communicable diseases
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| 653 |
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|a Diseases: Contagious
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| 653 |
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|a Labor market
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| 653 |
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|a Finance
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| 653 |
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|a Macroeconomics
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| 700 |
1 |
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|a Vardoulakis, Alexandros
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
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0 |
|a 10.5089/9781513557311.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2020/189/001.2020.issue-189-en.xml?cid=49743-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of production. Borrowing capacity is restricted by the value of capital, generating a pecuniary externality when financing constraints bind. Additionally, there is a distributive externality operating through wages. The planner's allocation can be decentralized with two instruments: a credit tax/subsidy and a labor tax/subsidy. Labor shocks, such as the COVID-19 shock, amplify the policy responses, which critically depend on whether financing constraints bind or not
|