-monetarist-Keynesian Quantity Theory of Money. Whereas the classics and Keynesian differ on equilibrium versus disequilibrium, it justifies the … explain the pronounced difference between risky and risk-free rates, i.e., the equity-premium and the risk-free rate puzzles …. It shows that consumers save at contraction and peak and stop saving at expansion and trough. Market risk premium and …

Asset pricing models assume the risk-free rate to be a key factor for equity prices. Hence, there should be a strong … link between monetary policy rate uncertainty and equity return volatility, both in theory and data. This paper uses …

and risk sharing. The welfare gains from coordination are found to be largest when there is risk sharing and the … elasticity of substitution between home and foreign goods is greater than unity. When there is no risk sharing the gains to … coordination are almost zero. It is also shown that the welfare gain from risk sharing can be negative when monetary policy is …

This paper studies the effects of three financial shocks in the economy: a net-worth shock, an uncertainty or risk …