The Fear Economy : A Theory of Output, Interest, and Safe Assets /
This paper presents a fear theory of the economy, based on the interplay between fear of rare disasters and the interest rate on safe assets. To do this, I study the macroeconomic consequences of government-administered interest rates in the neoclassical real business cycle model. When the governmen...
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2022.
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| Collection: | IMF Working Papers; Working Paper ;
No. 2022/175 |
| Sujets: | |
| Accès en ligne: | Full text available on IMF |