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Caballero, Ricardo J. - 2016

In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with high risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets, safe...

Persistent link: https://www.econbiz.de/10013006687

The Safety Trap

Caballero, Ricardo J. - 2014

In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with endogenous risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets,...

Persistent link: https://www.econbiz.de/10013058249

The Safety Trap

Caballero, Ricardo J. - 2014

In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with endogenous risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets,...

Persistent link: https://www.econbiz.de/10012458738

Fear of sudden stops : lessons from Australia and Chile

Caballero, Ricardo J.; Cowan, Kevin; Kearns, Jonathan - 2004

Persistent link: https://www.econbiz.de/10002076678

Fear of sudden stops : lessons from Australia and Chile

Caballero, Ricardo J.; Cowan, Kevin; Kearns, Jonathan - In: Journal of policy reform 8 (2005) 4, pp. 313-354

Persistent link: https://www.econbiz.de/10003229354

Fear of sudden stops : lessons from Australia and Chile

Caballero, Ricardo J.; Cowan, Kevin; Kearns, Jonathan - 2004

Persistent link: https://www.econbiz.de/10002096402

Fear of sudden stops : lessons from Australia and Chile

Caballero, Ricardo J. (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003138430

Asset Prices and Aggregate Demand in a "Covid-19" Shock : A Model of Endogenous Risk Intolerance and Lsaps

Caballero, Ricardo J. - 2020

following a large real (non-financial) shock; and (ii) demonstrate the effectiveness of Large Scale Asset Purchases (LSAPs) in … addressing these contractions. The key mechanism stems from heterogeneous risk tolerance: as a recessionary shock hits the … Covid-19 shock and the large response by all the major central banks provide a vivid illustration of the environment we seek …

Persistent link: https://www.econbiz.de/10012835752

Asset Prices and Aggregate Demand in a "Covid-19" Shock : A model of Endogenous Risk Intolerance and LSAPs

Caballero, Ricardo J. - 2020

a large (non-financial) shock; and (ii) demonstrate the effectiveness of Large Scale Asset Purchases (LSAPs) in … addressing these contractions. The key mechanism stems from heterogeneous risk tolerance: as a recessionary shock hits the … Covid-19 shock and the large response by all the major central banks provide a vivid illustration of the environment we seek …

Persistent link: https://www.econbiz.de/10012836868

A model of endogenous risk intolerance and LSAPs : asset prices and aggregate demand in a "COVID-19" shock

Caballero, Ricardo J.; Simsek, Alp - In: The review of financial studies 34 (2021) 11, pp. 5522-5580

Persistent link: https://www.econbiz.de/10012655645