Monetary Policy, Redistribution, and Risk Premia
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We study the transmission of monetary policy through risk premia in a heterogeneous agent New Keynesian environment. Heterogeneity in households' marginal propensity to take risk (MPR) summarizes differences in portfolio choice on the margin. An unexpected reduction in the nominal interest rate
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美国国家经济研究局创建时间：
2021-05-01
