An Exploration into Pigou's Theory of Cycles

By Paul Beaudry, Franck Portier. 2004

487 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7048f7ab6792d7ff9724c86b8530b0a7372dfe2f

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In Economics and Econometrics

Citations in the corpus

News Driven Business Cycles: Insights and Challenges (2014, unknown): “Such news on the variance of forcing processes are introduced in Christiano, Motto, and Rostagno [2013] and in an example of Beaudry and Portier [2013]. (14)To derive (11), we start from the equations for Lit which with γ = 1 is given by Lit = β α Et ∞ ∑”
Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence (2012, unknown): “The model is thus not necessarily subject to the co-movement “problem”highlighted by Beaudry and Portier (2004) and Jaimovich and Rebelo (2008). show, in the context of a model somewhat simpler than ours but incorporating essentially the same signal extraction problem, that a structural VAR is…”
Empirical evidence on the aggregate effects of anticipated and unanticipated US tax policy shocks (2012, result): “Secondly, our results may also have some relevance for the recent interest into the “news” view of business cycles, see e.g. Beaudry and Portier (2004, 2006), Cochrane (1994), Danthine, Donaldson and Johnsen (1998), den Haan and Kaltenbrunner (2009), or Jaimovich and Rebelo (2009).”
Risk Preferences and the Macroeconomic Announcement Premium (2018, background): “Beaudry and Portier (2004, 2014) show that if output cannot respond to news, consumption and Tobin’s q (and therefore asset returns) typically move in opposite directions regardless of whether the income or the substitution effect dominates.”
Anticipated Growth and Business Cycles in Matching Models (2009, background): “1 Beaudry and Portier (2007) analyze whether existing neoclassical models can generate 2 Pigou cycles. In a Pigou cycle, output, consumption, investment, and hours worked jointly 3 increase in response to an anticipated increase in productivity and these variables decline 4 when the anticipated incr”
News Shocks in Open Economies: Evidence from Giant Oil Discoveries (2015, unknown): “In response, Beaudry and Portier (2004), Jaimovich and Rebelo (2008, 2009), den Haan and Katlenrunner (2009), and others developed models that could produce an increase in labor input in response to news.”
Stock Prices, News and Economic Fluctuations (2006, unknown): “5 In Beaudry and Portier (2004), we document the robustness of these observations to a different choice of lag length and to estimating the system in levels rather than in VECM form. quarters.”
Real Business Cycle Models: Past, Present, and Future (2005, unknown): “Beaudry and Portier (2004) show that standard RBC models cannot generate comovement between consumption and investment in response to news about future productivity.”
News shocks and business cycles (2011, unknown): “A favorable news shock leads to an increase in consumption and declines in output, hours, and investment on impact – more suggestive of standard DSGE models than of recent extensions designed to generate news-driven business cycles.”
Fiscal Policy in an Unemployment Crisis (2016, background): “Beaudry and Portier (2004) inspired a renewed interest in the topic (e.g. Jaimovich and Rebelo (2009); Den Haan and Kaltenbrunner (2009)); recent empirical studies lend support to this view of macroeconomic fluctuations (e.g. Beaudry and Portier (2006); Barsky and Sims (2012)). flexible price, real…”
Firm performance and macro forecast accuracy (2018, unknown): “We can use expression (6) to prove that TFPR is strictly decreasing in the forecast error when Zit > 1, i.”
Monetary Policy and Stock Market Boom-Bust Cycles (2008, background): “[2] Beaudry, Paul and Franck Portier, 2000, ‘An Exploration into Pigou’s Theory of Cycles,’ Journal of Monetary Economics, University of British Columbia.”
Financial Factors in Economic Fluctuations (2010, unknown): “1 13 5 2 16 16 23 1 0 0 (6) (0) (—) (—) (0) (—) (10) (3) (3) (0) (8) (7) (1) (14) (17) (28) (0) (—) (0) [7] [0] [—] [—] [1] [—] [12] [4] [—] [—] [9] [6] [—] [—] [10] [50] [1] [—] [0] Credit 2 0 0 0 0 0 0.”