Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
This paper develops a neoclassical general equilibrium model to study the endogenous response of the stock market and the term structure of real interest rates in the face of a number of macroeconomic shocks believed to be important in the 1980s. An exogenous decline in savings, a debt-financed fisc...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
1995
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/241 |
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| Institution: | Singapore Management University |
| Language: | English |