Shocks, learning, and persistence

John Bryant

No 50, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: A simple model of the process of learning in a diverse economy is presented. This model produces a stylized business cycle with shocks which precipitate the learning process. All agents have the same information, which implies that this business cycle cannot be reduced by improved information flow, counter to many models of output and employment fluctuation.

Date: 1980
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.minneapolisfed.org/research/sr/sr50.pdf Full Text (application/pdf)

Related works:
Journal Article: Shocks, learning, and persistence (1980)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmsr:50

Access Statistics for this paper

More papers in Staff Report from Federal Reserve Bank of Minneapolis Contact information at EDIRC.
Bibliographic data for series maintained by Kate Hansel ().