EconPapers    
Economics at your fingertips  
 

News, Noise and Fluctuations: An Empirical Exploration

Jean-Paul L'Huillier (), Guido Lorenzoni and Olivier Blanchard ()

No 99, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: We explore this class of models for two reasons. The first is that it appears to capture many of the aspects often ascribed to fluctuations, the role of animal spirits in affecting demand---spirits that we interpret here as coming from a rational reaction to signals about the future---, the role of demand in affecting output in the short run, together with the notion that output eventually returns to its natural level. The second is that it appears to fit the data in a more formal way. More specifically, it offers an interpretation of structural VARs based on the assumption of two major types of shocks, shocks with permanent effects, and shocks with transitory effects on activity.

Date: 2009
References: View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
https://economicdynamics.org/meetpapers/2009/paper_99.pdf (application/pdf)

Related works:
Journal Article: News, Noise, and Fluctuations: An Empirical Exploration (2013) Downloads
Working Paper: News, Noise, and Fluctuations: An Empirical Exploration (2012) Downloads
Working Paper: News, Noise, and Fluctuations: An Empirical Exploration (2011) Downloads
Working Paper: News, Noise, and Fluctuations: An Empirical Exploration (2009) Downloads
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:red:sed009:99

Access Statistics for this paper

More papers in 2009 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().

 
Page updated 2019-04-17
Handle: RePEc:red:sed009:99