Kobayashi, Keiichiro; Nutahara, Kengo - In: Economics Bulletin 5 (2007) 18, pp. 1-9
Kobayashi, Nakajima, and Inaba (2007) show that in the neoclassical business cycle models with collateral constraints, a boom can be generated in response to an optimistic change in expectations on the future state of the economy. They call this business cycle a news-driven cycle. In their...
