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Why does risk matter more in recessions than in expansions?

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Bank of Finland Research Discussion Papers by Martin M. Andreasen, Giovanni Caggiano, Efrem Castelnuovo and Giovanni Pellegrino

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Why does risk matter more in recessions than in expansions?

Bank of Finland Research Discussion Papers by Martin M. Andreasen, Giovanni Caggiano, Efrem Castelnuovo and Giovanni Pellegrino