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...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2022.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2022/175 |
| 主題: | |
| 在線閱讀: | Full text available on IMF |