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Perceived uncertainty shocks, excess optimism-pessimism, and learning in the business cycle

Chatterjee, Pratiti; Milani, Fabio - In: Journal of economic behavior & organization : JEBO 179 (2020), pp. 342-360

Persistent link: https://www.econbiz.de/10012486782

Perceived uncertainty shocks, excess optimism-pessimism, and learning in the business cycle

Chatterjee, Pratiti; Milani, Fabio - 2020

What are the effects of beliefs, sentiment, and uncertainty, over the business cycle? To answer this question, we develop a behavioral New Keynesian macroeconomic model, in which we relax the assumption of rational expectations. Agents are, instead, boundedly rational: they have a...

Persistent link: https://www.econbiz.de/10012294890

Essays on technology and forecasting in macroeconomics

Samuels, Jon D. - 2012

Persistent link: https://www.econbiz.de/10011819217

Identifying key macroeconomic shocks to Canadian GDP

Sayeed, Jamil - 2020

the variation in the GDP in Canada. My findings suggest that TFP news shock is the key driver of GDP in the medium run and … it creates significant positive co-movements among the aggregate variables at business cycle frequencies. Demand shock … dominates in the short run, however, its hard to pin down the exact source of the shock. The findings are robust to alternative …

Persistent link: https://www.econbiz.de/10012437729