Now showing items 1-1 of 1

    • Shocks and business cycles 

      Burdzy, Krzysztof; Frankel, David M. (Berkeley Electronic Press, 2005)
      A popular theory of business cycles is that they are driven by animal spirits: shifts in expectations brought on by sunspots. A prominent example is Howitt and McAfee (AER, 1992). We show that this model has a unique ...