Generalized Robustness and Dynamic Pessimism
收藏NBER2020-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w26970
下载链接
链接失效反馈官方服务：
资源简介：
This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as a consequence of agents concern for model misspecification. We generalize the robust control approach of Hansen and Sargent (2001) by replacing
提供机构：
美国国家经济研究局
创建时间：
2020-04-01
