Low Inflation: High Default Risk AND High Equity Valuations
收藏NBER2018-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25317
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资源简介：
We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real asset prices and corporate default risk. Our model includes two empirically grounded nominal frictions: fixed nominal coupons and sticky profitability. Taken together, these two
提供机构：
美国国家经济研究局
创建时间：
2018-12-01
