Macrofinance and Resilience

Publication Year
2024

Type

Journal Article
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.

Journal
Journal of Finance
Volume
79
Issue
6
Date Published
12/2024
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