My da|ra Login

Detailed view

metadata language: English

Replication data for: A Theory of Demand Shocks

Version
V0
Resource Type
Dataset
Creator
  • Lorenzoni, Guido
Publication Date
2009-12-01
Description
  • Abstract

    This paper presents a model of business cycles driven by shocks to consumer expectations regarding aggregate productivity. Agents are hit by heterogeneous productivity shocks, they observe their own productivity and a noisy public signal regarding aggregate productivity. The public signal gives rise to "noise shocks," which have the features of aggregate demand shocks: they increase output, employment, and inflation in the short run and have no effects in the long run. Numerical examples suggest that the model can generate sizable amounts of noise-driven volatility. (JEL D83, D84, E21, E23, E32)
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/aer.99.5.2050 (Text)
Publications
  • Lorenzoni, Guido. “A Theory of Demand Shocks.” American Economic Review 99, no. 5 (December 2009): 2050–84. https://doi.org/10.1257/aer.99.5.2050.
    • ID: 10.1257/aer.99.5.2050 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Lorenzoni, Guido (2009): Replication data for: A Theory of Demand Shocks. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113343