Please join us in E-530 Dealy for a presentation by visiting PhD candidate Natalie Simeu on “Household well being and disability: evidence from Indonesia.” Her research project with Professor Mitra uses a 1997-2014 longitudinal panel from the Indonesia Family Life Survey (IFLS) to analyze coping strategies of households after a disability shock; namely how household expenditures and income vary following the onset of adult disability onset. Having received her MA University of Yaounde II in her native Cameroon Natalie Simeu is now PhD candidate in Economics at University of Sherbrooke Canada. She is visiting Fordham this Summer to work with Professor Mitra. Please join us in 530 Dealy, lunch will be served at 12pm.
Next Frick Free night August 5th
video: “Introduction to the Frick” at Summer Night,
presented by Rachel Himes, Education Assistant
Frick Free Nights provide free after-hours access to the Collection and offer visitors a range of programs, including lectures, performances, and open sketching. The Frick also hosts annual College Night and Teen Night events to kick off the academic year. Please see below for upcoming Frick Free Nights.
Frick Free Nights is supported, in part, by public funds from the New York City Department of Cultural Affairs in partnership with the City Council, and by the Gilder Foundation
Coauthored with Dr.David Florian Hoyle, who works as a research economist at Central Bank of Peru this paper attempts to explain the depth and persistence of unemployment by considering the relationship between credit and firm hiring explicitly. Starting with a simple vector autoregression framework and historical data on gross credit flows in the U.S. economy the paper examines the effects of financial shocks on credit and unemployment. Interestingly financial shocks generate a strong and attenuated response in unemployment. The authors develop a New Keynesian model with nominal rigidities in wages and prices, and introduce a banking sector characterized by search and matching frictions with endogenous credit destruction.
Financial shocks are propagated and amplified through significant variation over the business cycle in the endogenous component of the total factor productivity (credit inefficiency gap) arising from search and matching frictions. This model predicts a deep and sustained recession with a substantial increase in unemployment that lasts for at least 12 quarters and reproduce the conditional responses of labor productivity, inflation, and gross credit flows to a financial shock for the U.S. economy as well.