Risk Premium Shocks Can Create Inefficient Recessions
收藏NBER2020-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w26721
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资源简介：
We develop an equilibrium theory of business cycles driven by spikes in risk premiums that depress business demand for capital and labor. Aggregate shocks increase firms uninsurable idiosyncratic risk and raise risk premiums. We show that risk shocks can create quantitatively realistic recessions,
提供机构：
美国国家经济研究局
创建时间：
2020-02-01
