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【ECON20151210】

宏观经济学研讨会

（总第183期）

【时间】2015年5月27日（周三）12：15－13：45

【地点】明商0202教室

【主讲】陈荫  中国人民大学经济学院

【点评】陈朴 中国人民大学经济学院助理教授、明尼苏达大学经济学博士

【主题】Debt Constraints and Employment (written by Patrick Kehoe, Virgiliu Midrigan, and Elena Pastorino, 2014)

【摘要】In the Great Contraction, regions of the United States that experienced the largest declines in household debt to income also experienced the largest drops in consumption and employment. We develop a search and matching model that reproduces such patterns. Tighter debt constraints raise workers` and firms` discount rates, thus reducing match surplus, vacancy creation, and employment. Two ingredients of our model, on-the-job human capital accumulation and worker debt constraints, greatly amplify the drop in employment. We show that the model reproduces the salient cross-sectional features of the U.S. data, including the comovement between consumption, house prices, debt-to-income as well as tradable and non-tradable employment.

【主持】陈彦斌 教授

人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。

联系人：郭豫媚    Email：Macro_Workshop@163.com

资料下载：www.docin.com/mydoc-88265459-1.html

更多讲座信息请访问：econ.ruc.edu.cn，www.yanjiuyuan.com.cn

经济学院

中国经济改革与发展研究院