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 language | English (US) |
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Pages (from-to) | 3683-3728 |
Number of pages | 46 |
Journal | Journal of Finance |
Volume | 79 |
Issue number | 6 |
DOIs | |
State | Published - Dec 2024 |
All Science Journal Classification (ASJC) codes
- Accounting
- Finance
- Economics and Econometrics