@article{THESIS,
      recid = {3167},
      author = {Haomin, Qin},
      title = {Incorporating Preference Shocks and Liquidity Shocks into  the Bond Pricing New Keynesian Model},
      publisher = {University of Chicago},
      school = {M.A.},
      address = {2021-08},
      number = {THESIS},
      abstract = {In standard bond pricing macroeconomic models, the weights  of expected inflation errors are too high in the nominal  yields forecast error variance decomposition. This paper  tries to solve the problem by incorporating preference  shocks and liquidity shocks into a bond pricing New  Keynesian model. This paper documents that the  incorporation of preference shocks offers negligible  improvements, and the incorporation of liquidity shocks  could decrease the weights of expected inflation forecast  errors at short maturities, but still offer no improvements  at long maturities. Furthermore, this paper provides an  optional method to model a liquidity provider and financial  intermediaries in a bond pricing New Keynesian model.},
      url = {http://knowledge.uchicago.edu/record/3167},
      doi = {https://doi.org/10.6082/uchicago.3167},
}