TY  - JOUR
ID  - publications22267
UR  - http://tse-fr.eu/pub/30616
IS  - n°4
A1  - Beaudry, Paul
A1  - Portier, Franck
N2  - There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival of news, can cause business cycle fluctuations driven by expectational change, and we review the empirical evidence aimed at evaluating their relevance. In particular, we highlight how the literature on news and business cycles offers a coherent way of thinking about aggregate fluctuations, while at the same time we emphasize the many challenges that must be addressed before a proper assessment of the role of news in business cycles can be established
VL  - 52
TI  - News-Driven Business Cycles : Insights and Challenges
AV  - none
EP  - 1074
Y1  - 2014/12//
PB  - American Economic Association
JF  - Journal of Economic Literature (JEL)
KW  - Letting different views
KW  - Bayesian DSGE approach
KW  - Macroeconomic fluctuations
KW  - Production externalities
KW  - Technical change
SN  - 0022-0515
SP  - 993
ER  -