Gatti, Donatella; Rault, Christophe; Vaubourg, Anne-Gael - William Davidson Institute <Ann Arbor, Mich.> - 2010
show that theimpact of financial variables depends strongly on the labour market context. Increasedmarket capitalization as … well as decreased banking concentration reduce unemployment ifthe level of labour market regulation, union density and … in wage bargaining is high. These resultssuggest that the respective virtues of ed and market-based finance are crucially …