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Expectations and Economic Fluctuations
Sylvain Leduc
其他書名
An Analysis Using Survey Data
出版DIANE Publishing, 2010-10
主題Business & Economics / General
ISBN14379338239781437933826
URLhttp://books.google.com.hk/books?id=A-lqIZmgHD8C&hl=&source=gbs_api
EBookSAMPLE
註釋Using survey-based measures of future U.S. economic activity, the authors study how changes in expectations, and their interaction with monetary policy, contribute to fluctuations in macroeconomic aggregates. They find that changes in expected future economic activity are a quantitatively important driver of economic fluctuations: a perception that good times are ahead typically leads to a significant rise in current measures of economic activity and inflation. Short-term interest rate rises in response to expectations of good times as monetary policy tightens. ¿Provides quantitative evidence on the importance of expectations-driven business cycles and on the role that monetary policy plays in shaping them.¿ Charts and tables.