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Stock Prices, News and Economic Fluctuations

Beaudry, Paul - 2004

first captured in stock prices. We show that this shock causes a boom in consumption, investment and hours worked that … by a shock that does not affect productivity in the short run -- and therefore does not look like a standard technology … shock -- but affects productivity with substantial delay -- and therefore does not look like a monetary shock. One …

Persistent link: https://www.econbiz.de/10012468145

Real Keynesian Models and Sticky Prices

Beaudry, Paul - 2018

In this paper we present a generalized sticky price model which allows, depending on the parameterization, for demand shocks to maintain strong expansionary effects even in the presence of perfectly flexible prices. The model is constructed to incorporate the standard three-equation New...

Persistent link: https://www.econbiz.de/10012453490

Gold Rush Fever in Business Cycles

Beaudry, Paul - 2006

Gold rushes are periods of economic boom, generally associated with large increases in expenditures aimed at securing claims near new found veins of gold. An interesting aspect of gold rushes is that, from a social point of view, much of the increased activity is wasteful since it contributes...

Persistent link: https://www.econbiz.de/10012465950

News Driven Business Cycles : Insights and Challenges

Beaudry, Paul - 2013

There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival...

Persistent link: https://www.econbiz.de/10012459250

A Gains from Trade Perspective on Macroeconomic Fluctuations

Beaudry, Paul - 2011

Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...

Persistent link: https://www.econbiz.de/10012461366