Kilian, Lutz; Manganelli, Simone - C.E.P.R. Discussion Papers - 2007
Motivated by policy statements of central bankers, we propose to regard the central banker as a risk manager who aims … of risk management that may be used to quantify the risks of failing to attain that objective. Risk measures inherently … assumption of quadratic symmetric preferences, while being congruent with a risk management model. We show how the parameters of …