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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2014-08
- Classification
-
Wirtschaft
Macroeconomics and Monetary Economics: General
- Subject
-
Smets-Wouters model
safe and liquid assets
money demand
risk premium shock
New Keynesian model
DSGE
flight-to-quality
liquidity preference
- Event
-
Geistige Schöpfung
- (who)
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Fisher, Jonas D. M.
- Event
-
Veröffentlichung
- (who)
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Federal Reserve Bank of Chicago
- (where)
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Chicago, IL
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Fisher, Jonas D. M.
- Federal Reserve Bank of Chicago
Time of origin
- 2014
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