Presidential Address: Macrofinance and Resilience

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Abstract

This address reviews macrofinance from the perspective of resilience. It argues for a shift in mindset, away from risk management toward resilience management. It proposes a new resilience measure, and contrasts micro- and macro-resilience. It also classifies macrofinance models in first- (log-linearized) and second-generation models, and links the important themes of macrofinance to resilience.

Original languageEnglish (US)
Pages (from-to)3683-3728
Number of pages46
JournalJournal of Finance
Volume79
Issue number6
DOIs
StatePublished - Dec 2024

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics

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