Risky Business Cycles
收藏NBER2021-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28693
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资源简介：
We identify a shock that explains the bulk of fluctuations in the equity risk premium, and show that the shock also explains a large fraction of the business-cycle comovements of output, consumption, employment, and investment. Recessions induced by the shock are associated with a reallocation away
提供机构：
美国国家经济研究局
创建时间：
2021-04-01
