TY  - JOUR
AU  - Greenwald,Bruce C.
AU  - Stiglitz,Joseph E.
TI  - Imperfect Information, Credit Markets and Unemployment
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2093
PY  - 1988
Y2  - 1988
UR  - http://www.nber.org/papers/w2093
L1  - http://www.nber.org/papers/w2093.pdf
N1  - Author contact info:
Bruce C. Greenwald
Columbia University
611 Uris Hall
New York, NY  10027
E-Mail: bg7@columbia.edu

Joseph E. Stiglitz
Uris Hall, Columbia University
3022 Broadway, Room 814
New York, NY  10027
Tel: 212/854-0671
Fax: 212/662-8474
E-Mail: jes322@columbia.edu
AB  - This paper describes how imperfect information in both capital and labor markets can, in a context of maximizing firms and perfectly flexible prices and wages, give rise to cyclical variations in unemployment whose character closely resembles that of observed business cycles.
ER  -