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Keywords:liquidity preference 

Working Paper
On the Structural Interpretation of the Smets-Wouters “Risk Premium” Shock
Fisher, Jonas D. M. (2014-10-22)
This article shows that the "risk premium" shock in Smets and Wouters (2007) can be interpreted as a structural shock to the demand for safe and liquid assets such as short-term US Treasury securities. Several implications of this interpretation are discussed.
Working Paper Series , Paper WP-2014-8

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