On 28th November OxTalks will move to the new Halo platform and will become 'Oxford Events' (full details are available on the Staff Gateway).
There will be an OxTalks freeze beginning on Friday 14th November. This means you will need to publish any of your known events to OxTalks by then as there will be no facility to publish or edit events in that fortnight. During the freeze, all events will be migrated to the new Oxford Events site. It will still be possible to view events on OxTalks during this time.
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We isolate the main driver of equity risk premium fluctuations in the data, and show that this same shock also explains a large fraction of the business-cycle comovements of output, consumption, employment, and investment. Recessions associated with this shock are characterized by a reallocation away from full-time labor positions, and towards part-time and flexible contract workers. We explain the data using a novel real model where fluctuations in risk appetite lead to a shift from riskier to safer factors of production. Since safer factors carry lower marginal products – a form of real risk premium – this “flight-to-safety” in production input demand precipitates a broad macroeconomic contraction.
