Imperfect Knowledge, Asset Price Swings and Structural Slumps: A Cointegrated VAR Analysis of Their Interdependence
Research output: Working paper
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Imperfect Knowledge, Asset Price Swings and Structural Slumps : A Cointegrated VAR Analysis of Their Interdependence. / Juselius, Katarina.
Department of Economics, University of Copenhagen, 2010.Research output: Working paper
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TY - UNPB
T1 - Imperfect Knowledge, Asset Price Swings and Structural Slumps
T2 - A Cointegrated VAR Analysis of Their Interdependence
AU - Juselius, Katarina
N1 - JEL classification: E24, F31, F41
PY - 2010
Y1 - 2010
N2 - This paper is an empirically based discussion of interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007) and combines this with the Structural Slumps theory in Phelps (1994). The paper argues that this is likely to imcrease our understanding of the long recurrent spells of high unemployment that continue to mar our economies.
AB - This paper is an empirically based discussion of interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007) and combines this with the Structural Slumps theory in Phelps (1994). The paper argues that this is likely to imcrease our understanding of the long recurrent spells of high unemployment that continue to mar our economies.
KW - Faculty of Social Sciences
KW - financial markets
KW - speculation
KW - long swings
KW - CVAR
M3 - Working paper
BT - Imperfect Knowledge, Asset Price Swings and Structural Slumps
PB - Department of Economics, University of Copenhagen
ER -
ID: 22930972