Replication data for: Man-Bites-Dog Business Cycles
Principal Investigator(s): View help for Principal Investigator(s) Kristoffer P. Nimark
Version: View help for Version V1
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Suppl_Material_AER-2012-0076 | 10/11/2019 10:44:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 06:44:PM |
Project Citation:
Nimark, Kristoffer P. Replication data for: Man-Bites-Dog Business Cycles. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112841V1
Project Description
Summary:
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The newsworthiness of an event is partly determined by how unusual it is and this paper investigates the business cycle implications of this fact. Signals that are more likely to be observed after unusual events may increase both uncertainty and disagreement among agents. In a simple business cycle model, such signals can explain why we observe (i) occasional large changes in macro economic aggregate variables without a correspondingly large change in underlying fundamentals (ii) persistent periods of high macroeconomic volatility and (iii) a positive correlation between absolute changes in macro variables and the cross-sectional dispersion of survey expectations.
Scope of Project
JEL Classification:
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D81 Criteria for Decision-Making under Risk and Uncertainty
D82 Asymmetric and Private Information; Mechanism Design
D84 Expectations; Speculations
E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
D81 Criteria for Decision-Making under Risk and Uncertainty
D82 Asymmetric and Private Information; Mechanism Design
D84 Expectations; Speculations
E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
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