| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21575 |
| 来源ID | Working Paper 21575 |
| Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility | |
| Mete Kilic; Jessica A. Wachter | |
| 发表日期 | 2015-09-21 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | What is the driving force behind the cyclical behavior of unemployment and vacancies? What is the relation between job-creation incentives of firms and stock market valuations? We answer these questions in a model with time-varying risk, modeled as a small and variable probability of an economic disaster. A high probability implies greater risk and lower future growth, lowering the incentives of firms to invest in hiring. During periods of high risk, stock market valuations are low and unemployment rises. The model thus explains volatility in equity and labor markets, and the relation between the two. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w21575 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579250 |
| 推荐引用方式 GB/T 7714 | Mete Kilic,Jessica A. Wachter. Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Mete Kilic]的文章 |
| [Jessica A. Wachter]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Mete Kilic]的文章 |
| [Jessica A. Wachter]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Mete Kilic]的文章 |
| [Jessica A. Wachter]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
