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Gold rush fever in business cycles

Author Info

Listed author(s):
  • Paul Beaudry
  • Fabrice Collard

    ()

    (GREMAQ CNRS Universite de Toulouse)

Abstract

This paper presents a model of macroeconomic fluctuations driven by agents competing to secure shares in new markets. The resulting fluctuation resemble a gold rush in the sence that they increase economic activity but may be of limited social gain. We use different techniques to evaluate the potential importance of this type of phenomena in business cycle fluctuations

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Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 8.

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Date of creation: 03 Dec 2006
Handle: RePEc:red:sed006:8
Contact details of provider: Postal:
Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

Web page: http://www.EconomicDynamics.org/
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Keywords: Business Cycles; New Markets; Perceptions;

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Find related papers by JEL classification:
  • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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