Togo, Eriko (contributor) - 2007
, Tihomir Stucka, and Santiago Herrera of the World Bank, Lars Horngren from the
Swedish National Debt Office, Otavio Ladeira …, the reality is that they are often subjected to
political pressures arising from election cycles that lead them to take … pro-cyclical (exacerbates recessions and booms).
20
The cyclical
characteristic of the risk premium is closely tied to …