Shocks, learning, and persistence
By: John Bryant
Series: Staff report -- #50; Staff report (Federal Reserve Bank of Minneapolis. Research Department : Online) -- 50.
Publisher: Federal Reserve Bank of Minneapolis
Published: 1980
Place of publication: Minneapolis, Minn.]
Language: eng
Format: [electronic resource] /
Subjects: Business cycles
Description: "A simple model of the process of learning in a diverse economy is presented.  This model produces a stylized business cycle with shocks which precipitate the learning process.  All agents have the same information, which implies that this business cycle cannot be reduced by improved information flow, counter to many models of output and employment fluctuation"--Federal Reserve Bank of Minneapolis web site.
Notes: Title from PDF file as viewed on 10/16/2007.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.