Macro-Finance
A novel examine "Macro-Finance," based on a verbalize I gave at the University of Melbourne this Spring. I survey many electrical flow frameworks including habits, long run risks, idiosyncratic risks, heterogenous preferences, rare disasters, probability mistakes, in addition to debt or institutional finance. I present how all these approaches create quite like results in addition to mechanisms: the market's might to comport risk varies over time, alongside delineate of piece of occupation organization cycles. I speculate alongside about elementary models that time-varying risk premiums tin laissez passer on notice create a theory of risk-averse recessions, produced past times varying risk aversion in addition to precautionary saving, rather than Keynesian catamenia constraints or new-Keynesian intertemporal substitution.
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