Search Results - "CABALLERO, Ricardo"

The Safety Trap by CABALLERO, RICARDO J., FARHI, EMMANUEL

“…In this article, we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety…”
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A Risk-Centric Model of Demand Recessions and Speculation by Caballero, Ricardo J, Simsek, Alp

“…Abstract We provide a continuous-time “risk-centric” representation of the New Keynesian model, which we use to analyze the interactions between asset prices,…”
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Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome by Caballero, Ricardo J.

“…The recent financial crisis has damaged the reputation of macroeconomics, largely for its inability to predict the impending financial and economic crisis. To…”
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Fire Sales in a Model of Complexity by CABALLERO, RICARDO J., SIMSEK, ALP

“…We present a model of financial crises that stem from endogenous complexity. We conceptualize complexity as banks' uncertainty about the financial network of…”
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The Safe Assets Shortage Conundrum by Caballero, Ricardo J., Farhi, Emmanuel, Gourinchas, Pierre-Olivier

“…A safe asset is a simple debt instrument that is expected to preserve its value during adverse systemic events. The supply of safe assets, private and public,…”
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A Model of Endogenous Risk Intolerance and LSAPs: Asset Prices and Aggregate Demand in a “COVID-19” Shock by Caballero, Ricardo J, Simsek, Alp

“…Abstract We theoretically investigate the interaction of endogenous risk intolerance and monetary policy following a large recessionary shock. As asset prices…”
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Collective Risk Management in a Flight to Quality Episode by CABALLERO, RICARDO J., KRISHNAMURTHY, ARVIND

“…Severe flight to quality episodes involve uncertainty about the environment, not only risk about asset payoffs. The uncertainty is triggered by unusual events…”
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Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect by CABALLERO, RICARDO J., SIMSEK, ALP

“…ABSTRACT We analyze optimal monetary policy and its implications for asset prices when aggregate demand has inertia. If there is a negative output gap, the…”
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Zombie Lending and Depressed Restructuring in Japan by Caballero, Ricardo J., Hoshi, Takeo, Kashyap, Anil K.

“…Large Japanese banks often engaged in sham loan restructurings that kept credit flowing to otherwise insolvent borrowers (which we call zombies). We examine…”
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Global Imbalances and Financial Fragility by Caballero, Ricardo J., Krishnamurthy, Arvind

“…This paper presents a model to show how global imbalances has driven the US securitization boom and bust. Since flows into the US have been predominantly…”
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Trade and Capital Flows: A Financial Frictions Perspective by Antràs, Pol, Caballero, Ricardo J.

“…The classical Heckscher‐Ohlin‐Mundell paradigm states that trade and capital mobility are substitutes in the sense that trade integration reduces the…”
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Rents, Technical Change, and Risk Premia Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares by Caballero, Ricardo J., Farhi, Emmanuel, Gourinchas, Pierre-Olivier

“…The secular decline in safe interest rates since the early 1980s has been the subject of considerable attention. In this short paper, we argue that it is…”
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Safe Asset Scarcity and Aggregate Demand by Caballero, Ricardo J., Farhi, Emmanuel, Gourinchas, Pierre-Olivier

“…We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming style environment. Acute safe asset scarcity forces…”
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An Equilibrium Model of "Global Imbalances" and Low Interest Rates by Caballero, Ricardo J., Farhi, Emmanuel, Gourinchas, Pierre-Olivier

“…The sustained rise in US current account deficits, the stubborn decline in long-run real rates, and the rise in US assets in global portfolios appear as…”
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Cancer Chemotherapy and Cardiac Arrhythmias: A Review by Tamargo, Juan, Caballero, Ricardo, Delpón, Eva

“…Cardiovascular toxicity is a potential complication of cancer chemotherapy (CC) that increases the morbidity and mortality of cancer patients. Cardiac…”
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Global Imbalances and Policy Wars at the Zero Lower Bound by Caballero, Ricardo J, Farhi, Emmanuel, Gourinchas, Pierre-Olivier

“…Abstract This article explores the consequences of extremely low real interest rates in a world with integrated but heterogeneous capital markets, nominal…”
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Central Banks, Stock Markets, and the Real Economy by Caballero, Ricardo J, Simsek, Alp

“…In this article, we summarize empirical research on the interaction between monetary policy and asset markets and review our previous theoretical work that…”
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Drug-induced atrial fibrillation. A narrative review of a forgotten adverse effect by Tamargo, Juan, Villacastín, Julián, Caballero, Ricardo, Delpón, Eva

“…Atrial fibrillation (AF) is the most common cardiac arrhythmia and is associated with an increased morbidity and mortality. There is clinical evidence that an…”
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Coronary artery properties in atherosclerosis: A deep learning predictive model by Caballero, Ricardo, Martínez, Miguel Ángel, Peña, Estefanía

“…In this work an Artificial Neural Network (ANN) was developed to help in the diagnosis of plaque vulnerability by predicting the Young modulus of the core ( )…”
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Persistent Appreciations and Overshooting: A Normative Analysis by CABALLERO, RICARDO J., LORENZONI, GUIDO

“…Most economies experience episodes of persistent real exchange rate appreciations, when the question arises whether there is a need for intervention to protect…”
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