IDEAS home Printed from https://ideas.repec.org/p/fip/fedmsr/50.html
   My bibliography  Save this paper

Shocks, learning, and persistence

Author

Listed:
  • John Bryant

Abstract

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.

Suggested Citation

  • John Bryant, 1980. "Shocks, learning, and persistence," Staff Report 50, Federal Reserve Bank of Minneapolis.
    • Handle: RePEc:fip:fedmsr:50
    as

    Download full text from publisher

    File URL: http://minneapolisfed.org/research/sr/sr50.pdf
    Download Restriction: no
    File URL: http://www.minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=331
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Bryant, John & Wallace, Neil, 1980. "Open-Market Operations in a Model of Regulated, Insured Intermediaries," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 146-173, February.
    2. Bryant, John, 1978. "Relative prices and inventory investment," Journal of Monetary Economics, Elsevier, vol. 4(1), pages 85-102, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lawrence Sáez & Xianwen Shi, 2004. "Liquidity Pools, Risk Sharing, and Financial Contagion," Journal of Financial Services Research, Springer;Western Finance Association, vol. 25(1), pages 5-23, February.
    2. Joydeep Bhattacharya & Joseph H. Haslag, 1999. "Seigniorage in a neoclassical economy: some computational results," Working Papers 9901, Federal Reserve Bank of Dallas.
    3. Joseph H. Haslag, 2000. "On Fed watching and central bank transparency in an overlapping generations model," Working Papers 0002, Federal Reserve Bank of Dallas.
    4. repec:ipg:wpaper:2014-461 is not listed on IDEAS
    5. Joseph H. Haslag, 1994. "The effects of monetary policy in a model with reserve requirements," Working Papers 9415, Federal Reserve Bank of Dallas.
    6. Bittencourt, Manoel & Gupta, Rangan & Makena, Philton & Stander, Lardo, 2022. "Socio-political instability and growth dynamics," Economic Systems, Elsevier, vol. 46(4).
    7. Gupta, Rangan & Stander, Lardo, 2018. "Endogenous fluctuations in an endogenous growth model: An analysis of inflation targeting as a policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 1-8.
    8. Stanley Fischer, 1979. "On Activist Monetary Policy With Rational Expectations," NBER Working Papers 0341, National Bureau of Economic Research, Inc.
    9. Rangan Gupta & Lardo Stander, 2014. "Endogenous Fluctuations in an Endogenous Growth Model with Inflation Targeting," Working Papers 201432, University of Pretoria, Department of Economics.
    10. Stanley Fischer, 1980. "On Activist Monetary Policy with Rational Expectations," NBER Chapters, in: Rational Expectations and Economic Policy, pages 211-247, National Bureau of Economic Research, Inc.
    11. Bittencourt, Manoel & Gupta, Rangan & Stander, Lardo, 2014. "Tax evasion, financial development and inflation: Theory and empirical evidence," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 194-208.
    12. Bryant, John, 1981. "Bank Collapse and Depression," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(4), pages 454-464, November.
    13. John Bryant, 1978. "Transactions demand for money," Staff Report 38, Federal Reserve Bank of Minneapolis.
    14. Preston J. Miller & Arthur J. Rolnick, 1979. "The CBO's policy analysis: an unquestionable misuse of a questionable theory," Staff Report 49, Federal Reserve Bank of Minneapolis.
    15. John Bryant, 1980. "The competitive provision of fiat money," Staff Report 48, Federal Reserve Bank of Minneapolis.
    16. Antoine Martin, 2002. "Reconciling Bagehot with the Fed's response to Sept. 11," Research Working Paper RWP 02-10, Federal Reserve Bank of Kansas City.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedmsr:50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kate Hansel (email available below). General contact details of provider: https://edirc.repec.org/data/cfrbmus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.