search query: @author Rebelo, S. / total: 6
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| Author: | Jaimovich, N. Rebelo, S. |
| Title: | Behavioral theories of the business cycle |
| Journal: | Journal of the European Economic Association
2007 : APR/MAY, VOL. 5:2-3, p. 361-368 |
| Index terms: | business cycles behavioural science theories |
| Language: | eng |
| Abstract: | This study explores the business cycle implications of expectation shocks and of two well-known psychological biases, that is, optimism and overconfidence. The optimistic agents' expectations are biased toward good outcomes, whereas overconfident agents overestimate the precision of the signals received. Both expectation shocks and overconfidence can increase business-cycle volatility etc. |
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