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2021-04-11
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このアイテムへのリンクには次のURLをご利用ください:http://hdl.handle.net/11094/76692
論文情報
タイトル
Asset Bubbles, Unemployment, and Financial Market Frictions
著者
Hashimoto, Ken-ichi
Hashimoto, Ken-ichi
Im, Ryonghun
Im, Ryonghun
Kunieda, Takuma
Kunieda, Takuma
Shibata, Akihisa
Shibata, Akihisa
キーワード等
Asset bubbles
Unemployment
Labor-market matching frictions
Financial frictions
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 eects decrease as credit constraints are relaxed.
公開者
The Institute of Social and Economic Research, Osaka University
掲載誌名
Institute of Social and Economic Research Discussion Papers
巻
1096
開始ページ
1
終了ページ
50
刊行年月
2020-08
URL
http://hdl.handle.net/11094/76692
関連情報 (references)
https://www.iser.osaka-u.ac.jp/library/dp/2020/DP1096.pdf
言語
英語
カテゴリ
ディスカッション/ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers
論文詳細を表示
著者版フラグ
none
NII資源タイプ
テクニカルレポート
ローカル資源タイプ
ディスカッション/ワーキング・ペーパー
dcmi資源タイプ
text
DCTERMS.bibliographicCitation
Institute of Social and Economic Research Discussion Papers.1096 P.1-P.50
DC.title
Asset Bubbles, Unemployment, and Financial Market Frictions
DC.creator
Hashimoto, Ken-ichi
Im, Ryonghun
Kunieda, Takuma
Shibata, Akihisa
DC.publisher
The Institute of Social and Economic Research, Osaka University
DC.language" scheme="DCTERMS.RFC1766
英語
DCTERMS.issued" scheme="DCTERMS.W3CDTF
2020-08
DC.identifier" scheme="DCTERMS.URI
http://hdl.handle.net/11094/76692
DC.subject
Asset bubbles
Unemployment
Labor-market matching frictions
Financial frictions
DCTERMS.abstract
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 eects decrease as credit constraints are relaxed.
citation_title
Asset Bubbles, Unemployment, and Financial Market Frictions
citation_author
Hashimoto, Ken-ichi
Im, Ryonghun
Kunieda, Takuma
Shibata, Akihisa
citation_publisher
The Institute of Social and Economic Research, Osaka University
citation_language
英語
citation_date
2020-08
citation_journal_title
Institute of Social and Economic Research Discussion Papers
citation_volume
1096
citation_firstpage
1
citation_lastpage
50
citation_public_url
http://hdl.handle.net/11094/76692
citation_keywords
Asset bubbles
Unemployment
Labor-market matching frictions
Financial frictions