An Endogenous Mechanism of Business Cycles

This paper suggests that business cycles may be a manifestation of coupled real economy and stock market dynamics and describes a mechanism that can generate economic fluctuations consistent with observed business cycles. To this end, we seek to incorporate into the macroeconomic framework a dynamic...

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Veröffentlicht in:	arXiv.org 2019-09
Hauptverfasser:	Kroujiline, Dimitri, Gusev, Maxim, Ushanov, Dmitry, Sharov, Sergey V, Govorkov, Boris
Format:	Artikel
Sprache:	eng
Schlagworte:	Business cycles Dynamical systems Economic models Efficient markets Macroeconomics Securities markets
Online-Zugang:	Volltext
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