Political Cycles and Stock Returns
收藏NBER2017-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23184
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资源简介：
We develop a model of political cycles driven by time-varying risk aversion. Agents choose to work in the public or private sector and to vote Democrat or Republican. In equilibrium, when risk aversion is high, agents elect Democratsthe party promising more redistribution. The model predicts higher
提供机构：
美国国家经济研究局
创建时间：
2017-02-01
