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Internal and external habits and news-driven business cycles

Kengo Nutahara

Economics Letters, 2010, vol. 107, issue 2, 300-303

Abstract: An internal habit can be a source of news-driven business cycles, positive comovements in consumption, labor, investment, and output from the news about the future, whereas an external habit cannot.

Keywords: Habit; persistence; Internal; habit; External; habit; News-driven; business; cycles (search for similar items in EconPapers)
Date: 2010
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