11 The rising importance of liquidity-premium analysis Towards a regeneration of liquidity-preference theory?
Theodore Koutsobinas
Introduction
In recent years, there has been a growing interest in the pricing of financial assets on the macroeconomic process. For example, one significant debate within standard literature is related to the option of incorporating asset prices in the interest rate rule. There is also a growing interest in mainstream analysis of the development of behavioral macroeconomics in line with the original spirit of Keynes’s General Theory. This trend emphasizes various psychological and sociological factors, such as cognitive bias, reciprocity, fairness,herding, and social status (Akerlof, ...
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