Explaining the Last Consumption Boom-Bust Cycle in Ireland : The Role of News and Noise Shocks
The objective of the paper is to explain the last boom and bust in consumption in Ireland by the failure of consumers to correctly distinguish permanent changes in productivity from temporary changes. It uses a business cycle model, where agents up...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/06/17942511/explaining-last-consumption-boom-bust-cyclein-ireland-role-news-noise-shocks-explaining-last-consumption-boom-bust-cycle-ireland-role-news-noise-shocks http://hdl.handle.net/10986/15883 |