Imperfect Knowledge, Asset Price Swings, and Structural Slumps

Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning

Standard

Imperfect Knowledge, Asset Price Swings, and Structural Slumps. / Juselius, Katarina.

Rethinking Expectations: The Way Forward for Macroeconomics. red. / Roman Frydman; Edmund Phelps. Princeton, New Jersey : Princeton University Press, 2013. s. 328-350.

Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning

Harvard

Juselius, K 2013, Imperfect Knowledge, Asset Price Swings, and Structural Slumps. i R Frydman & E Phelps (red), Rethinking Expectations: The Way Forward for Macroeconomics. Princeton University Press, Princeton, New Jersey, s. 328-350.

APA

Juselius, K. (2013). Imperfect Knowledge, Asset Price Swings, and Structural Slumps. I R. Frydman, & E. Phelps (red.), Rethinking Expectations: The Way Forward for Macroeconomics (s. 328-350). Princeton University Press.

Vancouver

Juselius K. Imperfect Knowledge, Asset Price Swings, and Structural Slumps. I Frydman R, Phelps E, red., Rethinking Expectations: The Way Forward for Macroeconomics. Princeton, New Jersey: Princeton University Press. 2013. s. 328-350

Author

Juselius, Katarina. / Imperfect Knowledge, Asset Price Swings, and Structural Slumps. Rethinking Expectations: The Way Forward for Macroeconomics. red. / Roman Frydman ; Edmund Phelps. Princeton, New Jersey : Princeton University Press, 2013. s. 328-350

Bibtex

@inbook{5d4bf5e1d39444858ed49ab1d91987c4,
title = "Imperfect Knowledge, Asset Price Swings, and Structural Slumps",
abstract = "This paper discusses interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the Structural Slumps theory in Phelps (1994) and the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007). The former emphasizes real interest rates and real exchange rates as potentially important determinants underlying the persistent fluctuations in aggregate activities, and the latter provides the conditions under which speculative behavior in currency markets generates such persistence. The paper argues that by combing the two theories we can shed new light on the two-way interdependence between persistent swings in asset markets and persistent fluctuations in the real economy. In particular, we may improve our understanding of the mechanisms behind the long recurrent spells of high unemployment that continue to mar our economies.",
author = "Katarina Juselius",
year = "2013",
language = "English",
isbn = "9780691155234",
pages = "328--350",
editor = "Frydman, {Roman } and Edmund Phelps",
booktitle = "Rethinking Expectations",
publisher = "Princeton University Press",
address = "United States",

}

RIS

TY - CHAP

T1 - Imperfect Knowledge, Asset Price Swings, and Structural Slumps

AU - Juselius, Katarina

PY - 2013

Y1 - 2013

N2 - This paper discusses interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the Structural Slumps theory in Phelps (1994) and the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007). The former emphasizes real interest rates and real exchange rates as potentially important determinants underlying the persistent fluctuations in aggregate activities, and the latter provides the conditions under which speculative behavior in currency markets generates such persistence. The paper argues that by combing the two theories we can shed new light on the two-way interdependence between persistent swings in asset markets and persistent fluctuations in the real economy. In particular, we may improve our understanding of the mechanisms behind the long recurrent spells of high unemployment that continue to mar our economies.

AB - This paper discusses interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the Structural Slumps theory in Phelps (1994) and the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007). The former emphasizes real interest rates and real exchange rates as potentially important determinants underlying the persistent fluctuations in aggregate activities, and the latter provides the conditions under which speculative behavior in currency markets generates such persistence. The paper argues that by combing the two theories we can shed new light on the two-way interdependence between persistent swings in asset markets and persistent fluctuations in the real economy. In particular, we may improve our understanding of the mechanisms behind the long recurrent spells of high unemployment that continue to mar our economies.

M3 - Book chapter

SN - 9780691155234

SP - 328

EP - 350

BT - Rethinking Expectations

A2 - Frydman, Roman

A2 - Phelps, Edmund

PB - Princeton University Press

CY - Princeton, New Jersey

ER -

ID: 37393770