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Macroeconomics after the crisis : time to deal with the pretense-of-knowledge syndrome
Caballero, Ricardo J. - 2010
Persistent link: https://www.econbiz.de/10008688824
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Macroeconomics after the crisis : time to deal with the pretense-of-knowledge syndrome
Caballero, Ricardo J. - In: The journal of economic perspectives : EP ; a journal … 24 (2010) 4, pp. 85-102
Persistent link: https://www.econbiz.de/10008906885
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Macroeconomics after the crisis : time to deal with the pretense-of-knowledge syndrome
Caballero, Ricardo J. - 2010
"In this paper I argue that the current core of macroeconomics-by which I mainly mean the so-called dynamic stochastic general equilibrium approach-has become so mesmerized with its own internal logic that it has begun to confuse the precision it has achieved about its own world with the...
Persistent link: https://www.econbiz.de/10008771405
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Macroeconomics after the Crisis : Time to Deal with the Pretense-of-Knowledge Syndrome
Caballero, Ricardo J. - 2010
In this paper I argue that the current core of macroeconomics--by which I mainly mean the so-called dynamic stochastic general equilibrium approach--has become so mesmerized with its own internal logic that it has begun to confuse the precision it has achieved about its own world with the...
Persistent link: https://www.econbiz.de/10013137318
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Macroeconomics after the Crisis : Time to Deal with the Pretense-of-Knowledge Syndrome
Caballero, Ricardo J. - 2010
In this paper I argue that the current core of macroeconomics--by which I mainly mean the so-called dynamic stochastic general equilibrium approach--has become so mesmerized with its own internal logic that it has begun to confuse the precision it has achieved about its own world with the...
Persistent link: https://www.econbiz.de/10012462227
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Macroeconomics after the Crisis : Time to Deal with the Pretense-of-Knowledge Syndrome
Caballero, Ricardo J. - 2010
In this paper I argue that the current core of macroeconomics - by which I mainly mean the so-called dynamic stochastic general equilibrium approach - has become so mesmerized with its own internal logic that it has begun to confuse the precision it has achieved about its own world with the...
Persistent link: https://www.econbiz.de/10014190853
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Lumpy Investment in Dynamic General Equilibrium
Bachmann, Ruediger; Engel, Eduardo M. R. A.; Caballero, … - 2006
shock. Conversely, a slowdown after a boom can lead to a long lasting investment slump, which is unresponsive to policy …-2000 sample, the initial response of investment to a productivity shock with responses in the top quartile is 60% higher than the …
Persistent link: https://www.econbiz.de/10014057432
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A note on temporary supply shocks with aggregate demand inertia
Caballero, Ricardo J.; Simsek, Alp - In: American Economic Review Insights 5 (2023) 2, pp. 241-258
Persistent link: https://www.econbiz.de/10014314086
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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
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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