IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-05659078.html

Animal spirits in cash-in-advance economies

Author

Listed:
  • Stefano Bosi

  • Frédéric Dufourt

    (Université Louis Pasteur - Strasbourg I)

  • Francesco Magris

Abstract

The empirical relevance of indeterminacy and sunspot fluctuations has been often questioned on the basis of the implausibly high degrees of increasing returns to scale or unconventional calibrations for the fundamentals required. In this paper we study a one-sector economy with partial cash-in-advance constraint on consumption expenditures, and show how such phenomena are by contrast quite pervasive: They appear for arbitrarily small amplitudes of the liquidity constraint, whatever the specification for the fundamentals is. At the same time we asses the cyclical properties of the model by allowing simultaneously technological and beliefs disturbances and observe that it performs as well as other indeterminate models.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Stefano Bosi & Frédéric Dufourt & Francesco Magris, 2007. "Animal spirits in cash-in-advance economies," Post-Print hal-05659078, HAL.
    • Handle: RePEc:hal:journl:hal-05659078
    DOI: 10.3917/rel.732.0131
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-05659078. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.