Does risk matter more in recessions than in expansions? Implications for monetary policy
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More about this item
Keywords
New Keynesian model; Nonlinear SVAR; Non-recursive identification; State-contingent uncertainty shock; Risky steady state;All these keywords.
JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
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