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A Theory of Demand Shocks需求冲击理论.pdfVIP

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  • 2018-08-06 发布于福建
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A Theory of Demand Shocks需求冲击理论.pdf

    A Theory of Demand Shocks Guido Lorenzoni∗ November 2006 Abstract This paper presents a model of business cycles driven by shocks to consumer expec- tations regarding aggregate productivity. Agents are hit by heterogeneous productivity shocks, they observe their own productivity and a noisy public signal regarding aggregate productivity. The noise

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