Banks, Firms, and Jobs /

Banks, Firms, and Jobs /

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Bibliographic Details
Author / Creator:	Berton, Fabio, author.
Imprint:	Washington, D.C. : International Monetary Fund, 2017.
Description:	1 online resource (58 pages)
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/17/38 IMF working paper ; WP/17/38.
Subject:	Financial crises. Banks and banking. Banks and banking. Financial crises.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11705079

Hidden Bibliographic Details
Other authors / contributors:	Mocetti, Sauro. Presbitero, Andrea.
ISBN:	9781475584653 1475584652 1475584652 1475579012 9781475579017
Notes:	Print version record.
Summary:	We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.
Other form:	Print version: Berton, Fabio. Banks, Firms, and Jobs. Washington, D.C. : International Monetary Fund, ©2017 9781475579017
Standard no.:	10.5089/9781475579017.001

Description
Summary:	We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.
Physical Description:	1 online resource (58 pages)
ISBN:	9781475584653 1475584652 1475579012 9781475579017
ISSN:	1018-5941 ;