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:: Volume 22, Issue 72 (Quarterly Journal of Economic Research and Policies 2015) ::
3 2015, 22(72): 49-76 Back to browse issues page
The Impact of Financial Shocks on the Labour Market Fluctuations in a Barter Economy
Asadollah Farzin Vash, Mohammad ali Ehsani, Hadi Keshavarz
Faculty of Economics & Administrative Science -University of Mazandaran , hd.keshavarz@gmail.com
Abstract:   (4416 Views)
The financial crisis of 2007 showed that the impact of financial markets on macroeconomic developments is so considerable. One of the important markets affected by financial variables, is the labor market. This paper investigates the impact of financial shocks on labor market fluctuations with financial frictions in the Iranian economy. Labor market reaches equilibrium via a search and matching process. For this purpose, a model of dynamic stochastic general equilibrium (DSGE) is designated for the Iranian economy and its parameters are estimated using Bayesian methods. Results show that a negative financial shock increases unemployment. In addition, financial frictions play an important role in amplifying the effects of financial shocks on unemployment.
Keywords: Financial Shock, Financial Friction, Search and Match Process, Dynamic Stochastic General Equilibrium (DSGE).
Full-Text [PDF 454 kb]   (1401 Downloads)    
Type of Study: Applicable | Subject: Special
Received: 2014/07/15 | Accepted: 2015/03/16 | Published: 2015/03/16
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Farzin Vash A, ehsani M A, keshavarz H. The Impact of Financial Shocks on the Labour Market Fluctuations in a Barter Economy. 3. 2015; 22 (72) :49-76
URL: http://qjerp.ir/article-1-919-en.html


Volume 22, Issue 72 (Quarterly Journal of Economic Research and Policies 2015) Back to browse issues page
فصلنامه پژوهشها و سیاستهای اقتصادی Journal of Economic Research and Policies
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