Can Shocks to Risk Aversion Explain Business Cycle Fluctuations in Bulgaria (1999–2019)?
Stochastic risk aversion is introduced into a dynamic general-equilibrium setup augmented with government. The theoretical framework is calibrated to Bulgarian data for the period 1999–2019. The quantitative relevance of shocks to risk aversion is investigated for the propagation of business cycles...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Primorska
2021-12-01
|
| Series: | Managing Global Transitions |
| Subjects: | |
| Online Access: | https://212.235.226.96/index.php/fm/article/view/45 |