The Fear Economy : A Theory of Output, Interest, and Safe Assets /

This paper presents a fear theory of the economy, based on the interplay between fear of rare disasters and the interest rate on safe assets. To do this, I study the macroeconomic consequences of government-administered interest rates in the neoclassical real business cycle model. When the governmen...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Agarwal, Ruchir
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2022.
Sarja:IMF Working Papers; Working Paper ; No. 2022/175
Aiheet:
Linkit:Full text available on IMF