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Noisy News in Business cycles
Forni, Mario; Gambetti, Luca; Lippi, Marco; Sala, Luca - C.E.P.R. Discussion Papers - 2013
role of the "noise" shock the component of the signal observed by agents which is unrelated to economic fundamentals as a … source of business cycle fluctuations. We find that noise shocks generate hump-shaped responses of GDP, consumption and …
Persistent link: https://www.econbiz.de/10011145478
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Understanding Exchange Rate Volatility Without the Contrivance of Macroeconomics
Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998
Exchange rate regimes differ primarily by the activity of the exchange rate, not observable macroeconomic ‘fundamentals’. Fixed exchange rates are typically stable and floating exchange rates are volatile, but macro phenomena are regime-independent. Fundamentals only seem to be relevant for...
Persistent link: https://www.econbiz.de/10005788957