Opzioni di ricerca
Home Media Facciamo chiarezza Studi e pubblicazioni Statistiche Politica monetaria L’euro Pagamenti e mercati Lavorare in BCE
Suggerimenti
Ordina per
Non disponibile in italiano

Luciana Barbosa

23 April 2019
WORKING PAPER SERIES - No. 2271
Details
Abstract
We identify the effects of exogenous credit constraints on firm ability to attract and retain skilled workers. To do so, we exploit a shock to the value of the pension obligations of Portuguese banks resulting from a change in accounting norms. Using bank-firm credit exposures that we match with a census of all Portuguese employees, we show that firms in a relationship with affected banks borrow less and reduce employment mostly of high-skilled workers. High-skilled workers are more likely to exit and less likely to join affected firms. Overall, credit market frictions might have long lasting effects on firm productivity and growth through firm accumulation of human capital.
JEL Code
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
J21 : Labor and Demographic Economics→Demand and Supply of Labor→Labor Force and Employment, Size, and Structure
J24 : Labor and Demographic Economics→Demand and Supply of Labor→Human Capital, Skills, Occupational Choice, Labor Productivity
Network
ECB Lamfalussy Fellowship Programme

Il nostro sito utilizza cookie

Utilizziamo i cookie funzionali per memorizzare le preferenze degli utenti, i cookie analitici per migliorare le prestazioni del sito Internet e i cookie di terze parti che sono creati dai servizi di terze parti integrati nel sito.

Puoi decidere se accettarli o bloccarli. Per maggiori informazioni o per modificare le tue preferenze sui cookie e sui registri dei server che usiamo:

Leggi la nostra informativa sulla privacy

Scopri di più su come utilizziamo i cookie