Microeconomic origins of macroeconomic tail risks /
We document that even though the normal distribution is a good approximation to the nature of aggregate fluctuations, it severely under-predicts the frequency of large economic downturns. We then provide a model that can explain these facts simultaneously. Our model show that the propagation of micr...
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| Format: | Book |
| Language: | English |
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Cambridge, MA :
Massachusetts Institute of Technology, Dept. of Economics,
[2014]
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| Series: | Working paper (Massachusetts Institute of Technology. Department of Economics) ;
no. 15-01 |
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Internet
This item is not available through BorrowDirect. Please contact your institution’s interlibrary loan office for further assistance.Massachusetts Institute of Technology
| Call Number: |
HB31.M415 no.15-01 |
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