Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - Institute for the Study of Labor (IZA) - 2012
market volatility and Okun's elasticity over the business cycle. Second, we highlight a key mechanism linking financial … also argue that the effect of leverage on employment adjustment can be interpreted as a causal effect, if our …The recent financial crises, alongside a dramatic rise in unemployment on both sides of the Atlantic, suggest that …