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Subjective uncertainty, expectations, and firm behavior
Lautenbacher, Stefan - 2021
expectations and document a strong negative relationship. However, the link is much weaker in bad times, since uncertainty is then … persistently high - even when expectations are favorable. I continue by investigating the relative importance of uncertainty and … expectations for corporate decisions. Exploiting information on firms' investment and labor reactions to the COVID-19 crisis, I do …
Persistent link: https://www.econbiz.de/10012500426
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Indeterminacy and the Stability Puzzle in Non-Convex Economies
Evans, George W.; McGough, Bruce - Department of Economics, University of Oregon - 2002
We extend common factor analysis to a multi-dimensional setting by considering a bivariate reduced form consistent with many Real Business Cycle type models. We show how to obtain new representations of sunspots and find that there are parameter regions in which these sunspots are stable under...
Persistent link: https://www.econbiz.de/10005635095
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Subjective uncertainty, expectations, and firm behavior
Lautenbacher, Stefan - 2021
expectations and document a strong negative relationship. However, the link is much weaker in bad times, since uncertainty is then … persistently high - even when expectations are favorable. I continue by investigating the relative importance of uncertainty and … expectations for corporate decisions. Exploiting information on firms' investment and labor reactions to the COVID-19 crisis, I do …
Persistent link: https://www.econbiz.de/10012487869
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Forecasting and policy making
Wieland, Volker; Wolters, Maik Hendrik - House of Finance, Goethe Universität Frankfurt am Main - 2012
Persistent link: https://www.econbiz.de/10010955284
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Indeterminacy and the Stability Puzzle in Non-Convex Economies
Evans, George; McGough, Bruce - In: Contributions to Macroeconomics 5 (2005) 1, pp. 1264-1264
We examine stability under learning of sunspot equilibria in Real Business Cycle type models with indeterminacies. Our analysis emphasizes the importance of examining alternative representations of sunspot solutions. A general bivariate reduced form contains parameter regions in which sunspots...
Persistent link: https://www.econbiz.de/10005751492
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Money, Income, Inflation and the Acceleration Principle
Karpetis, Christos; Varelas, Erotokritos - In: Economia Internazionale / International Economics 58 (2005) 2, pp. 179-201
. Assuming that expectations are adaptive, we determine and solve a second order system of difference equations with constant …
Persistent link: https://www.econbiz.de/10008490663
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Modeling News-Driven International Business Cycles
Beaudry, Paul; Dupaigne, Martial; Portier, Franck - Toulouse School of Economics (TSE) - 2009
This paper reexamines the question of how to explain business cycle co-movements within and between countries. First, we present two simple theoretically flexible price models to illustrate how and why news shocks can generate robust positive co-movements in economic activity across countries....
Persistent link: https://www.econbiz.de/10008465346
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Forecasting and policy making
Wieland, Volker; Wolters, Maik Hendrik - 2012
Persistent link: https://www.econbiz.de/10010368564
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When Can Changes in Expectations Cause Business Cycle Fluctuations?
Portier, Franck; Beaudry, Paul - Society for Economic Dynamics - SED - 2004
changes in expectations. We show that most of the standard neo-classical models used in the macro literature can not support … economies may exhibit business cycle fluctuations driven by changes in expectations. …
Persistent link: https://www.econbiz.de/10005090930
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The Malaysian Property Boom and Bust Cycle: History Repeating?
Ferlito, Carmelo - 2018
According to Mark Thornton, we could be very close to another major economic crisis. Ten years have passed from the so-called Great Recession and Thornton's prediction confirms my view according to which business fluctuations are pervasive, and the crisis that emerged in the Western world in...
Persistent link: https://www.econbiz.de/10011947282