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I estimate a dynamic stochastic general equilibrium (DSGE) model for the United States that incorporates oil market shocks and risk shocks working through credit market frictions. The findings of this analysis indicate that risk shocks play a crucial role during the Great Recession and the...
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shocks. In the first three there was a supply shock and in 2020 a demand shock. Changes in oil consumption that are not …
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shocks. In the first three there was a supply shock and in 2020 a demand shock. Changes in oil consumption that are not …
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