Auray, Stéphane; Gomme, Paul; Guo, Shen - Département d'économique, Faculté d'administration - 2009
A chief goal of the Pigou cycle literature is to generate a boom in response to news of a future increase in productivity, and a bust if this improvement does not in fact take place. We nd that monetary policy can generate Pigou cycles in a two sector model with durables and non-durables, and...
