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Essays on Macroeconomic Stabilization
(2016-05-18)
Motivated by policy debates emerging from the U.S. Great Recession and Eurozone crisis, I study the stabilization role of monetary, fiscal, and macroprudential policies in response to short-run fluctuations. In the first ...
Danger Ahead: The Reach-for-Yield Behavioral Transmission Mechanism Across Risky Assets
(2016-07-06)
This paper argues for the existence of a reach-for-yield behavioral transmission mechanism which, during low-interest rate periods, drives a higher willingness to pay for dividend yield in various yield assets like high-yield ...