| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9624 |
| DP9624 News Driven Business Cycles: Insights and Challenges | |
| Franck Portier; Paul Beaudry | |
| 发表日期 | 2013-09-01 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival of news, can cause business cycle fluctuations driven by expectational change, and we review the empirical evidence aimed at evaluating its relevance. In particular, we highlight how the literature on news and business cycles offers a coherent way of thinking about aggregate fluctuations, while at the same time we emphasize the many challenges that must be addressed before a proper assessment of its role in business cycles can be established. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Business cycles Expectations News Pigou Recessions |
| URL | https://cepr.org/publications/dp9624 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538459 |
| 推荐引用方式 GB/T 7714 | Franck Portier,Paul Beaudry. DP9624 News Driven Business Cycles: Insights and Challenges. 2013. |
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