search query: @indexterm Credit markets / total: 99
reference: 47 / 99
| Author: | Acemoglu, D. |
| Title: | Credit market imperfections and persistent unemployment |
| Journal: | European Economic Review
2001 : MAY, VOL. 45:4-6, p. 665-679 |
| Index terms: | CREDIT MARKETS LABOUR MARKETS UNEMPLOYMENT EUROPE |
| Language: | eng |
| Abstract: | This paper develops the thesis that credit market frictions may be an important contribution to high unemployment in Europe. When a change in technological regime necessitates the creation of new firms, this can happen relatively rapidly in the U.S. where credit markets function efficiently. In contrast, in Europe, job creation is constrained by credit market imperfections, so unemployment rises and remains high for an extended period. |
SCIMA