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Multiple-equilibria macroeconomic models suggest that consumers and investors' perceptions about the state of the economy may be important independent factors for business cycles. In this paper, we examine empirically the interrelations between waves of optimism and pessimism and subsequent...
Persistent link: https://www.econbiz.de/10014125314
Multiple-equilibria macroeconomic models suggest that consumers and investors' perceptions about the state of the economy may be important independent factors for business cycles. In this paper, we examine empirically the interrelations between waves of optimism and pessimism and subsequent...
Persistent link: https://www.econbiz.de/10014125381