ANIMAL SPIRITS, HETEROGENEOUS EXPECTATIONS, AND THE AMPLIFICATION AND DURATION OF CRISES.

We introduce a simple equilibrium model of a market for loans, where households lend to firms based on heterogeneous expectations about their loan default probability. Agents select endogenously among heterogeneous expectation rules, based upon their relative performance. Due to strong nonlinearitie...

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Detalles Bibliográficos

Publicado en:	Economic Inquiry Vol. 55; no. 1; pp. 542 - 565
Autores principales:	Assenza, Tiziana, Brock, William A., Hommes, Cars H.
Formato:	Artículo
Publicado:	Wiley-Blackwell Jan2017
Materias:	Financial crises Economic equilibrium Loans Economic recovery Economics Economic research
Acceso en línea:	Ver este registro en EBSCOhost