Unemployment and Liquidity Constraints.Ioannides, Yannis Menelaos.
Hajivassiliou, V. A. (Vassilis A.)
We present a dynamic framework for the interaction between borrowing (liquidity) constraints and deviations of actual hours from desired hours, both measured by discrete-valued indicators, and estimate it as a system of dynamic binary and ordered probit models with panel data from the Panel Study of Income Dynamics. We analyze a household's propensity to be liquidity constrained by means of a dyna... read more
- Liquidity (Economics)
- Tufts University. Department of Economics.
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- Original publication
- This is the peer reviewed version of the following article: Hajivassiliou, Vassilis A. and Yannis M. Ioannides. 2007. "Unemployment and Liquidity Constraints." Journal of Applied Econometrics 22:479-510, which has been published in final form at doi: 10.1002/jae.953. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.