Three Ingredients to the Flex-price Approach
{"Image DocumentName": "Three Ingredients to the Flex-price Approach", "Image ImageDescription": "Risk-averse Firms. A credit allocation mechanism in which credit allocating, risk-averse banks play a central role. New labor market theories, like insider-outsider and efficiency-wage theories, play a role. 1 and 2 explain the magnification of shocks in the economy. 3 explains why the shocks may link to unemployment.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}