注册 投稿
经济金融网 中国经济学教育科研网 中国经济学年会 EFN通讯社

John H. Cochrane综述:宏观-金融

文件大小:未知

级别评定:★★★★★

添加时间:2016-08-11 16:36:17

最后更新:2016-08-12 14:31:14

下载积分:0分 (只有会员文件下载时才需要相应积分验证)

总浏览:

总下载:15

发布人:george15135

  • 如果您发现该资源不能下载,请在本站论坛提出,管理员会及时处理。
  • 未经本站明确许可,任何网站不得非法盗链及抄袭本站资源。
  • 本站资源均为网友提供交流,仅供教学、研究使用,请下载后24小时内自行删除。
    0
资源简介

Macro-Finance

John H. Cochrane

NBER Working Paper No. 22485
Issued in August 2016
 

Macro-finance addresses the link between asset prices and economic fluctuations. Many models reflect the same rough idea: the market's ability to bear risk varies over time, larger in good times, and less in bad times. Models achieve this similar result by quite different mechanisms, and I contrast their strengths and weaknesses. I outline how macro-finance models may illuminate macroeconomics, by putting time-varying risk aversion, risk-bearing capacity, and precautionary savings at the center of recessions rather than variation in “the” interest rate and intertemporal substitution. I emphasize unsolved questions and profitable avenues for research. 

资源评论

快速入口
回到顶部
深圳网站建设