Uncertainty Traps
收藏NBER2014-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19973
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资源简介：
We develop a theory of endogenous uncertainty and business cycles in which short-lived shocks can generate long-lasting recessions. In the model, higher uncertainty about fundamentals discourages investment. Since agents learn from the actions of others, information flows slowly in times of low
提供机构：
美国国家经济研究局
创建时间：
2014-03-01
