Global Sunspots and Asset Prices in a Monetary Economy
收藏NBER2015-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20831
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资源简介：
This paper constructs a simple model in which asset price fluctuations are caused by sunspots. Most existing sunspot models use local linear approximations: instead, I construct global sunspot equilibria. My agents are expected utility maximizers with logarithmic utility functions, there are no
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美国国家经济研究局创建时间：
2015-01-01
