Fluctuations in confidence and asymmetric business cycles
By: Simon M. Potter.
Contributors: Federal Reserve Bank of New York.
Series: Staff reports ;; no. 66; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 66.
Publisher: Federal Reserve Bank of New York
Published: 1999
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Electronic publications.; Economic indicators.; Business cycles.; United States.
Description: "There is now a great deal of empirical evidence that business cycle fluctuations contain asymmetries.  The asymmetries found in post-war U.S.  data are inconsistent with the behavior of the U.S.  economy in the Great Depression.  In a model where business cycle asymmetries are produced by rational fluctuations in the confidence of investors, I examine whether this inconsistency can be explained by differences in government policy.  It is found that the "ineptness" of government intervention during the Great Depression in reducing the confidence of investors rather than the success of post-war stabilization policy in raising confidence is the most likely explanation"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 2/10/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.