Browsing Department of Economics by Subject "Animal Spirits"

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    • Decentralizatiohn, Communication, and the Origins of Fluctuations 

      Angeletos, George-Marios; La'O, Jennifer (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2011-05-04)
      We consider a class of convex, competitive, neoclassical economies in which agents are rational; the equilibrium is unique; there is no room for randomization devices; and there are no shocks to preferences, technologies, ...