De Graeve, Ferre; Dossche, Maarten; Emiris, Marina; … - 2010
We analyze financial risk premiums and real economic dynamics in a DSGE model with three types of agents - shareholders …, bondholders and workers - that differ in participation in the capital market and in attitude towards risk and intertemporal sub … for the shareholders, which are two important ingredients for generating high and counter- cyclical risk premiums. These …