Arbeitspapier
On the structural interpretation of the Smets-Wouters "risk premium" shock
This article shows that the "risk premium" shock in Smets and Wouters (2007) can be interpreted as a structural shock to the demand for safe and liquid assets such as short-term US Treasury securities. Several implications of this interpretation are discussed.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2014-08
- Klassifikation
-
Wirtschaft
Macroeconomics and Monetary Economics: General
- Thema
-
Smets-Wouters model
safe and liquid assets
money demand
risk premium shock
New Keynesian model
DSGE
flight-to-quality
liquidity preference
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fisher, Jonas D. M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of Chicago
- (wo)
-
Chicago, IL
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Fisher, Jonas D. M.
- Federal Reserve Bank of Chicago
Entstanden
- 2014
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