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Persistent link: https://www.econbiz.de/10001446981
We construct a model to capture the Keynesian idea that production and employment decisions are based on expectations … of aggregate demand driven by sentiments and that realized demand follows from the production and employment decisions of …
Persistent link: https://www.econbiz.de/10013085407
We show that sentiments - self-fulfilling changes in beliefs that are orthogonal to fundamentals - can drive persistent aggregate fluctuations under rational expectations. Such fluctuations can occur even in the absence of any exogenous aggregate fundamental shocks. In addition, sentiments also...
Persistent link: https://www.econbiz.de/10012963733
We construct a model to capture the Keynesian idea that production and employment decisions are based on expectations … of aggregate demand driven by sentiments, and that realized demand follows from the production and employment decisions …
Persistent link: https://www.econbiz.de/10013078372
Contents: Preface (xiv) -- Introduction : the importance of aggregate demand for full employment and rising living …-Philippe Rochon -- PART III. COUNTRY STUDIES: 7. Full employment in Canada in the early 21st century (116) / Lars Osberg -- 8 …. Employment in India : aggregate demand and structural transformations (142) / Sunanda Sen -- 9. Abenomics and the Japanese labour …
Persistent link: https://www.econbiz.de/10012294173
We characterize the entire set of linear equilibria of beauty contest games under general information structures. In particular, we focus on equilibria in which sentiments, that is self-fulfilling changes in beliefs that are orthogonal to fundamentals and exogenous noise, can drive aggregate...
Persistent link: https://www.econbiz.de/10012455545
We construct a model to capture the Keynesian idea that production and employment decisions are based on expectations … of aggregate demand driven by sentiments, and that realized demand follows from the production and employment decisions …
Persistent link: https://www.econbiz.de/10012459783
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