Business cycle amplification with heterogeneous expectations

DOI10.1007/S00199-010-0541-2MaRDI QIDQ540410zbMATH OpenOpenAlexFDO

Authors William A. Branch, Bruce McGough

Publication date 3 June 2011

Published in Economic Theory (Search for Journal in Brave)

Copyright license Creative Commons Attribution-NonCommercial 4.0 International

Full work available at URL https://doi.org/10.1007/s00199-010-0541-2

zbMATH Keywords

heterogeneous expectationspropagationreal business cyclesrestricted perceptions

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51) Economic dynamics (91B55) Heterogeneous agent models (91B69)

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Cites work

• A New Keynesian model with heterogeneous expectations
• A Rational Route to Randomness
• Animal spirits and monetary policy
• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• Diverse beliefs and time variability of risk premia
• Endogenous uncertainty and the non-neutrality of money
• Financial leverage and market volatility with diverse beliefs
• Intrinsic heterogeneity in expectation formation
• Monetary policy and heterogeneous expectations
• Money non-neutrality in a rational belief equilibrium with financial assets
• On the structure and diversity of rational beliefs
• Rules of thumb in macroeconomic equilibrium
• The diversity of forecasts from macroeconomic models of the US economy
• The role of expectations in economic fluctuations and the efficacy of monetary policy
• The Solution of Linear Difference Models under Rational Expectations
• When can changes in expectations cause business cycle fluctuations in neo-classical settings?

Cited in

(26)

• Optimal policy business cycles
• Should business rely on business cycle forecasting?
• The role of cognitive limitations and heterogeneous expectations for aggregate production and credit cycle
• Learnability of an equilibrium with private information
• Policy change and learning in the RBC model
• Adaptive learning and distributional dynamics in an incomplete markets model
• Adaptive learning, endogenous uncertainty, and asymmetric dynamics
• Heterogeneity and learning with complete markets
• Are the representative agent's beliefs based on efficient econometric models?
• E-stability in the stochastic Ramsey model
• scientific article; zbMATH DE number 772610 (Why is no real title available?)
• Monetary policy and heterogeneous expectations
• The diversity of forecasts from macroeconomic models of the US economy
• Diverse beliefs and time variability of risk premia
• Expectational coordination in simple economic contexts. Concepts and analysis with emphasis on strategic substituabilities
• Heuristic expectation formation and business cycles: a simple linear model
• Nonlinear Expectation Formation, Endogenous Business Cycles and Stylized Facts
• Business cycle accounting with model consistent expectations
• Diagnostic business cycles
• Can heterogeneous expectations New Keynesian models match the dispersion of survey forecasts?
• Heterogeneous expectations and debt in a growth model for a small open economy
• Modeling diverse expectations in an aggregated New Keynesian model
• Formation of rationally heterogeneous expectations
• Labor hoarding, superior information, and business cycle dynamics
• Cattle cycles, heterogeneous expectations and the age distribution of capital
• When can changes in expectations cause business cycle fluctuations in neo-classical settings?

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