English, Article, Journal or magazine article edition: Self-Fulfilling Expectations and Fluctuations in Aggregate Demand Michael Woodford

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/141843
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
Author
  • Michael Woodford
Physical Description
  • preprint
Notes
  • The paper presents an intertemporal general equilibrium model with rationing in the product market, in which stationary sunspot equilibria are shown to exist, indicating the possibility of fluctuations in economic activity simply due to self-fulfilling variations in econornic agents' expectations. Specifically, revised expectations about future aggregate demand change current investment demand, which (amplified by a "multiplier" process) then affects current aggregate demand. Parameter values required for endogenous fluctuations are discussed, as well as quantitative properties of the fluctuations predicted. Countercyclical stabilization policies are shown to rule out such equilibria.
  • RePEc:nbr:nberwo:3361
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment