Abstract

  


 



Gross and Net Loan Flows under Search and Matching Frictions in Labour and Credit Markets


Giuseppe Ciccarone


University of Rome I - Department of Public Economics

Danilo Liberati


University of Rome I

Francesco Giuli


University of Rome III - Department of Economics
August 7, 2009


Abstract:     
The interplay of imperfections in several markets is the new frontier of New Keynesian DSGE model research. Following a suggestion put forward by Wasmer and Weil (2004) in a partial equilibrium environment, we introduce search and matching frictions in both the labour and the financial markets into a cash in advance New Keynesian DSGE theoretical model. We compare the offspring of our model with some of the empirical findings documented by the recent literature on gross credit flows dynamics over the business cycle. We show that our results are in line with several of such findings.

Keywords: Credit and search frictions, business cycle

JEL Classification: E24, E24, E44

working papers series


Date posted: August 10, 2009  

Suggested Citation

Ciccarone, Giuseppe, Liberati, Danilo and Giuli, Francesco, Gross and Net Loan Flows under Search and Matching Frictions in Labour and Credit Markets (August 7, 2009). Available at SSRN: http://ssrn.com/abstract=1445430

Contact Information

Giuseppe Ciccarone
University of Rome I - Department of Public Economics ( email )
Via del Castro Laurenziano 9
Rome, 00161
Italy
HOME PAGE: http://dep.eco.uniroma1.it/~ciccaron/
Danilo Liberati
University of Rome I ( email )
via del Castro Laurenziano, 9
I-00161 Rome, RM 00161
Italy
Francesco Giuli (Contact Author)
University of Rome III - Department of Economics ( email )
via Ostiense, 139
Rome, 00154
Italy
Feedback to SSRN (Beta)


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