.png){kind=icon}
Return
Risk Shocks
.png){kind=icon}
PRE
AI
DOI：10.1257/aer.104.1.27.png)
.png){kind=icon}
Original request for help.png){kind=icon}
Share.png){kind=icon}
Save
Abstract
En 中文
We augment a standard monetary dynamic general equilibrium model to include a Bernanke-Gertler-Gilchrist financial accelerator mechanism. We fit the model to US data, allowing the volatility of cross-sectional idiosyncratic uncertainty to fluctuate over time. We refer to this measure of volatility as risk. We find that fluctuations in risk are the most important shock driving the business cycle.
Keywords:
BUSINESS CYCLES
AGENCY COSTS
LABOR-MARKET
NET WORTH
FLUCTUATIONS
IMPACT
AI Summary
Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.
Journal
IF:
11.6
Papers:
5.0K
Citations:
7.5W
Organization
Cited Papers
.png){kind=icon}
ShareSave
ShareSave
ShareSaveShareSaveShareSaveShareSave
View more