| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062306 | Economics Letters | 2007 | 7 Pages |
Abstract
We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Yasuo Hirose,