Endogenous confidence cycles

Pavel Krivenko, Martin Schneider and Cosmin Ilut
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Pavel Krivenko: Stanford
Cosmin Ilut: Duke University

No 1383, 2015 Meeting Papers from Society for Economic Dynamics

Abstract: This paper studies the joint dynamics of economic activity and agent's perceived uncertainty about future activity. Feedback effects due to learning and changing incentives to innovate generate cyclical fluctuations in asset prices and output.

Date: 2015
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed015:1383

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