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Banks, Firms, and Jobs

By: Fabio Berton,Sauro Mocetti,Andrea Presbitero,Matteo Richiardi

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Banks, Firms, and Jobs

By: Fabio Berton,Sauro Mocetti,Andrea Presbitero,Matteo Richiardi

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.

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Page Count

57

Publisher

International Monetary Fund

Published Date

ISBN 10

1475584628

ISBN 13

9781475584622

Banks, Firms, and Jobs

By: Fabio Berton,Sauro Mocetti,Andrea Presbitero,Matteo Richiardi

Write a review Read reviews Take a Quiz Solve Book Puzzle

Banks, Firms, and Jobs

By: Fabio Berton,Sauro Mocetti,Andrea Presbitero,Matteo Richiardi

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.

Average ratings

N/A

5

0%

4

0%

3

0%

2

0%

1

0%

Write a review

Solve jigsaw puzzle

Age

Page Count

57

Publisher

International Monetary Fund

Published Date

ISBN 10

1475584628

ISBN 13

9781475584622

Book's by Sauro Mocetti

Banks, Firms, and Jobs

Banks, Firms, and Jobs

Banks, Firms, and Jobs

Banks, Firms, and Jobs

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