IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Did CNBC contribute to the Great Moderation or the Great Recession?

Listed author(s):
  • Mark Setterfield

    ()

    (Department of Economics, Trinity College)

  • Shyam Gouri Suresh

    ()

    (Department of Economics, Davidson College)

We construct a multi-agent system (MAS) model of cyclical growth in which aggregate fluctuations result from variations in activity at firm level. The latter, in turn, result from changes in the state of long run expectations (SOLE) or “animal spirits” and their effect on firms’ investment behaviour. We focus on the impact of a common source of information – analogous to the mass media – on the amplitude of aggregate fluctuations. Our results suggest that the amplitude of growth cycles is reduced by extremes of attention or inattention to aggregate economic performance, but that this relationship is subject to complicated (and possibly complex) phase transitions.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://internet2.trincoll.edu/repec/WorkingPapers2013/WP13-07.pdf
File Function: First version, 2013
Download Restriction: no

Paper provided by Trinity College, Department of Economics in its series Working Papers with number 1307.

as
in new window

Length: 32 pages
Date of creation: Mar 2013
Handle: RePEc:tri:wpaper:1307
Contact details of provider: Postal:
300 Summit Street, Hartford, CT 06106-3100

Phone: (860) 297 - 2485
Web page: http://www.trincoll.edu/Academics/MajorsAndMinors/Economics/Pages/default.aspx

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:tri:wpaper:1307. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joshua Stillwagon)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.