Unemployment and financial constraints faced by small firms.
The writer examines the conditions under which the practice of small business owners working for themselves and only employing relatives and friends is an economic outcome, and he considers the link between this outcome and unemployment. He constructs a model of a credit market and its associated l...
| Publicado en: | Economic Inquiry Vol. 35; pp. 108 - 120 |
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| Formato: | Artículo |
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Wiley-Blackwell
January 1997
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510535534&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510535534 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: January 1997 vid: 35 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510535534 10.1111/j.1465-7295.1997.tb01898.x ppf: 108 ppct: 12 formats: fmt: @attributes: type: T tig: atl: Unemployment and financial constraints faced by small firms. aug: au: Jefferson, Philip N. su: Mathematical models of unemployment Small business finance Mathematical models sug: subj: Mathematical models of unemployment Small business finance Mathematical models ab: The writer examines the conditions under which the practice of small business owners working for themselves and only employing relatives and friends is an economic outcome, and he considers the link between this outcome and unemployment. He constructs a model of a credit market and its associated labor market and shows that small firms are subject to financial constraints that are supported by information asymmetries. Furthermore, he illustrates that, in a constrained equilibrium, sole proprietorship and unemployment arise from an information imperfection in the credit market that renders the consummation of mutually beneficial contracts in the labor market infeasible. He concludes that policies designed to circumvent information barriers faced by small businesses could materially improve the economic welfare of particular labor force groups. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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