分享論文
Risk Shocks (CMR 2014)
分享人
高崧耀（中國經濟與管理研究院在讀博士）
時間
11月13日（周日）
14:00-16:30
地點
騰訊會議
395-5682-4845
主持人
王忏
金融學院
趙軍柱
韦德体育bevictor中國經濟與管理研究院
活動對象
韦德体育bevictor本科生、研究生
論文摘要
We augment a standard monetary dynamic general equilibrium model to include a Bernanke-Gertler-Gilchrist financial accelerator mechanism. We fit the model to US data, allowing the volatility of cross-sectional idiosyncratic uncertainty to fluctuate over time. We refer to this measure of volatility as risk. We find that fluctuations in risk are the most important shock driving the business cycle.
