Graeve, Ferre de; Dossche, Maarten; Emiris, Marina; … - Centre de Recherche en Économie Appliquée (CREA), … - 2009
We analyze financial risk premiums and real economic dynamics in a DSGE model with three types of agents - shareholders, bondholders and workers - that differ in participation in the capital market and in attitude towards risk and intertemporal sub- stitution. Aggregate productivity and...