A risk-centric model of demand recessions and macroprudential policy /
When investors are unwilling to hold the economy's risk, a decline in the interest rate increases the Sharpe ratio of the market and equilibrates the risk markets. If the interest rate is constrained from below, risk markets are instead equilibrated via a decline in asset prices. However, the l...
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| Format: | Book |
| Language: | English |
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Cambridge, MA :
Massachusetts Institute of Technology, Dept. of Economics,
[2017]
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| Edition: | Revised |
| Series: | Working paper (Massachusetts Institute of Technology. Department of Economics) ;
no. 17-07 2017d |
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Internet
This item is not available through BorrowDirect. Please contact your institution’s interlibrary loan office for further assistance.Massachusetts Institute of Technology
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ISIL:US-MCM |
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