The Real Channel for Nominal Bond-Stock Puzzles
收藏NBER2021-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29085
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资源简介：
We present evidence that the nature of aggregate consumption dynamics change around the time the bond-stock correlation switches sign. We identify three regimes in a real-time, sequential learning framework: two highly persistent regimes where either permanent or transitory consumption shocks are
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美国国家经济研究局创建时间：
2021-07-01
