Sunspot fluctuations ulnder zero nominal interest rates

被引：4
|
作者：
Hirose, Yasuo [1 ]
机构：
[1] Bank Japan, Int Dept, Chuo Ku, Tokyo 1038660, Japan
来源：
ECONOMICS LETTERS | 2007年 / 97卷 / 01期
关键词：
sunspots; indeterminacy; zero interest rates; Bayesian analysis;
D O I：
10.1016/j.econlet.2007.02.015
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation. (C) 2007 Elsevier B.V. All rights reserved.
引用
收藏
页码：39 / 45
页数：7
相关论文
共 50 条
12345