Gold rush fever in business cycles

This paper presents a model of macroeconomic fluctuations driven by agents competing to secure shares in new markets. The resulting fluctuation resemble a gold rush in the sence that they increase economic activity but may be of limited social gain. We use different techniques to evaluate the potential importance of this type of phenomena in business cycle fluctuations

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Year of publication:	2006-12-03
Authors:	Beaudry, Paul ; Collard, Fabrice
Institutions:	Society for Economic Dynamics - SED
Subject:	Business Cycles \| New Markets \| Perceptions

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Series:	2006 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2006 Meeting Papers Number 8
Classification:	E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005051206