Ji, Yan and Zhibo, Tan, Does a Flexible Labor Market Amplify the Impact of a Credit Crunch? (February 1, 2015). Available for download at SSRN: http://ssrn.com/abstract=2558864 “We demonstrate that a flexible labor market amplifies the impact of a credit crunch on the duration of a recession through the credit trap channel. We illustrate this channel’s… Continue Reading