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We study how the countercyclicality of temporary layoffs affects aggregate unemployment fluctuations, firm entry and … exit dynamics, and macroeconomic fluctuations by building a tractable framework with equilibrium unemployment and … unemployment, and firm entry and firm survival in U.S. data, including the strong countercyclicality of temporary layoffs. We show …
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Financial inclusion is strikingly low in emerging economies. In only a few years, financial technologies (fintech) have led to a dramatic expansion in the number of non-traditional credit intermediaries, but the macroeconomic and credit-market implications of this rapid growth of fintech are not...
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