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- W289774929 abstract "We propose a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where a risk aversion shock enters a separable utility function. We analyze five periods, each one lasting twenty years, to follow over time the dynamics of several parameters (such as the risk aversion parameter), the Taylor rule coefficients and the role of this risk aversion shock on output and real money balances in the Eurozone. Our analysis suggests that risk aversion was a more important component of output and real money balance dynamics between 2006 and 2011 than it had been between 1971 and 2006, at least in the short run." @default.
- W289774929 created "2016-06-24" @default.
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- W289774929 date "2012-06-28" @default.
- W289774929 modified "2023-09-27" @default.
- W289774929 title "Risk Aversion in the Euro area" @default.
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