 | Monetary and Macroprudential Policy with Endogenous Risk Author/Editor: Tobias Adrian, Fernando Duarte, Nellie Liang, Pawel Zabczyk. Release Date:November, 2020 We extend the New Keynesian (NK) model to include endogenous risk. Lower interest rates not only shift consumption intertemporally but also conditional output risk via their impact on risk-taking, more...
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| The Term Structure of Growth-at-Risk Author/Editor: Tobias Adrian, Federico Grinberg, Nellie Liang, Sheheryar Malik. Release Date:August, 2018 Using panel quantile regressions for 11 advanced and 10 emerging market economies, we show that the conditional distribution of GDP growth depends on financial conditions, with growth-at-risk more...
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