Free Spirits
نویسندگان
چکیده
منابع مشابه
Business cycles with free entry ruled by animal spirits
The paper approaches business cycles in terms of extrinsic uncertainty related, not to dynamic indeterminacy of intertemporal equilibria (in the neighborhood of an attractor) or to multiplicity of steady states (in nonlinear models), but to static indeterminacy of free entry oligopolistic equilibria within each period. We consider an OLG economy in which Þrms, supplying differentiated goods wit...
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We provide a business cycle model in which endogenous markup fluctuations are the main driving force. These fluctuations occur due to some form of ‘animal spirits’, impelling firms in their entry-exit decisions within each sector. By contrast to existing models of the business cycle emphasizing the role of animal spirits, we do not rely on the sink property of the equilibrium to generate indete...
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ژورنال
عنوان ژورنال: European Journal of Pragmatism and American Philosophy
سال: 2010
ISSN: 2036-4091
DOI: 10.4000/ejpap.911