Gold rush fever in business cycles

Paul Beaudry () and Fabrice Collard ()

No 8, 2006 Meeting Papers from Society for Economic Dynamics

Abstract: This paper presents a model of macroeconomic fluctuations driven by agents competing to secure shares in new markets. The resulting fluctuation resemble a gold rush in the sence that they increase economic activity but may be of limited social gain. We use different techniques to evaluate the potential importance of this type of phenomena in business cycle fluctuations

Keywords: Business Cycles; New Markets; Perceptions (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Date: 2006-12-03
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Working Paper: Gold Rush Fever in Business Cycles (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:red:sed006:8

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