The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation
نویسندگان
چکیده
منابع مشابه
The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation∗
In the wake of the “great recession,”many economists explored new sources of business cycle fluctuations, such as news, sentiment or uncertainty shocks. But these theories have diffi culty explaining why post-recession output would remain below trend long after many commonly used measures of uncertainty recovered to their pre-crisis levels. We propose a business cycle model where new informatio...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2015
ISSN: 1556-5068
DOI: 10.2139/ssrn.2687558