Sentiments, Financial Markets, and Macroeconomic Fluctuations
收藏NBER2015-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21294
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资源简介：
This paper studies how financial information frictions can generate sentiment-driven fluctuations in asset prices and self-fulfilling business cycles. In our model economy, exuberant financial market sentiments of high output and high demand for capital increase the price of capital, which signals
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美国国家经济研究局创建时间：
2015-06-01
