Bankruptcy and Nominal Financial Contracts in the Business  Cycle
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
This research activity is supported under the "Research Opportunities           for Women--Planning Grant Program".  The purpose of this program is to          provide an opportunity for women, who have never been the recipient of          a federal award, to undertake preliminary work to determine the                 feasibility of a line of research.  The causes of the business cycle            and the mechanisms for propagating and possibly amplifying the                  fluctuations in employment and output are a central issue in economics          which is still far from resolved.  This award will allow the                    investigator to begin to develop and test a model of the business cycle         that explicitly takes into account the role of financial intermediaries         and credit markets.  To date, relatively little empirical work on               business cycles has been done incorporating credit relationships into           the models.   This work should provide a better understanding of the            role of bankruptcy and credit availability in the propagation of                business cycles.  This line of research is important because it may             provide important insights into ways of ameliorating the fluctuations           in overall economic activity.
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{'Code': '132000', 'Text': 'Economics'}
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