Explaining the Last Consumption Boom-Bust Cycle in Ireland: The Role of News and Noise Shocks
The objective of the paper is to explain the last boom and bust in consumption in Ireland by the failure of consumers to correctly distinguish permanent changes in productivity from temporary changes. It uses a business cycle model, where agents update their beliefs about long-run productivity using...
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Washington, D.C
The World Bank
2013
|
| Links: | https://doi.org/10.1596/1813-9450-6525 |
| Zusammenfassung: | The objective of the paper is to explain the last boom and bust in consumption in Ireland by the failure of consumers to correctly distinguish permanent changes in productivity from temporary changes. It uses a business cycle model, where agents update their beliefs about long-run productivity using information-that they receive continuously-about the future state of the economy. The analysis finds that a large and prolonged disconnect between consumption and long-run productivity occurred in the years leading to the economic crisis, which led to "over-consumption" for several quarters. A strong downward adjustment in 2008 followed when Irish consumers finally realized their mistake |
| Umfang: | 1 Online-Ressource (10 p) |
| DOI: | 10.1596/1813-9450-6525 |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV048265959 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220609s2013 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1596/1813-9450-6525 |2 doi | |
| 035 | |a (ZDB-1-WBA)NLM01033615X | ||
| 035 | |a (OCoLC)1075142805 | ||
| 035 | |a (DE-599)GBVNLM01033615X | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 |a DE-19 |a DE-355 |a DE-703 |a DE-91 |a DE-706 |a DE-29 |a DE-M347 |a DE-473 |a DE-824 |a DE-20 |a DE-739 |a DE-1043 |a DE-863 |a DE-862 | ||
| 100 | 1 | |a Sanchez, Jose Luis Diaz |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Explaining the Last Consumption Boom-Bust Cycle in Ireland |b The Role of News and Noise Shocks |c Jose Luis Diaz Sanchez |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2013 | |
| 300 | |a 1 Online-Ressource (10 p) | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 520 | |a The objective of the paper is to explain the last boom and bust in consumption in Ireland by the failure of consumers to correctly distinguish permanent changes in productivity from temporary changes. It uses a business cycle model, where agents update their beliefs about long-run productivity using information-that they receive continuously-about the future state of the economy. The analysis finds that a large and prolonged disconnect between consumption and long-run productivity occurred in the years leading to the economic crisis, which led to "over-consumption" for several quarters. A strong downward adjustment in 2008 followed when Irish consumers finally realized their mistake | ||
| 700 | 1 | |a Sanchez, Jose Luis Diaz |4 oth | |
| 776 | 0 | 8 | |i Sanchez, Jose Luis Diaz |a Explaining the Last Consumption Boom-Bust Cycle in Ireland |
| 856 | 4 | 0 | |u https://doi.org/10.1596/1813-9450-6525 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033646153 | |
Datensatz im Suchindex
| DE-BY-TUM_katkey | 2817180 |
|---|---|
| _version_ | 1821937175167500288 |
| any_adam_object | |
| author | Sanchez, Jose Luis Diaz |
| author_facet | Sanchez, Jose Luis Diaz |
| author_role | aut |
| author_sort | Sanchez, Jose Luis Diaz |
| author_variant | j l d s jld jlds |
| building | Verbundindex |
| bvnumber | BV048265959 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)NLM01033615X (OCoLC)1075142805 (DE-599)GBVNLM01033615X |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1596/1813-9450-6525 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01948nam a2200325zc 4500</leader><controlfield tag="001">BV048265959</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220609s2013 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1596/1813-9450-6525</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)NLM01033615X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1075142805</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBVNLM01033615X</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-M347</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-1043</subfield><subfield code="a">DE-863</subfield><subfield code="a">DE-862</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Sanchez, Jose Luis Diaz</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Explaining the Last Consumption Boom-Bust Cycle in Ireland</subfield><subfield code="b">The Role of News and Noise Shocks</subfield><subfield code="c">Jose Luis Diaz Sanchez</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2013</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (10 p)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">The objective of the paper is to explain the last boom and bust in consumption in Ireland by the failure of consumers to correctly distinguish permanent changes in productivity from temporary changes. It uses a business cycle model, where agents update their beliefs about long-run productivity using information-that they receive continuously-about the future state of the economy. The analysis finds that a large and prolonged disconnect between consumption and long-run productivity occurred in the years leading to the economic crisis, which led to "over-consumption" for several quarters. A strong downward adjustment in 2008 followed when Irish consumers finally realized their mistake</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Sanchez, Jose Luis Diaz</subfield><subfield code="4">oth</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Sanchez, Jose Luis Diaz</subfield><subfield code="a">Explaining the Last Consumption Boom-Bust Cycle in Ireland</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1596/1813-9450-6525</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033646153</subfield></datafield></record></collection> |
| id | DE-604.BV048265959 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:40:07Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033646153 |
| oclc_num | 1075142805 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| physical | 1 Online-Ressource (10 p) |
| psigel | ZDB-1-WBA |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | The World Bank |
| record_format | marc |
| spellingShingle | Sanchez, Jose Luis Diaz Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks |
| title | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks |
| title_auth | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks |
| title_exact_search | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks |
| title_full | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks Jose Luis Diaz Sanchez |
| title_fullStr | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks Jose Luis Diaz Sanchez |
| title_full_unstemmed | Explaining the Last Consumption Boom-Bust Cycle in Ireland The Role of News and Noise Shocks Jose Luis Diaz Sanchez |
| title_short | Explaining the Last Consumption Boom-Bust Cycle in Ireland |
| title_sort | explaining the last consumption boom bust cycle in ireland the role of news and noise shocks |
| title_sub | The Role of News and Noise Shocks |
| url | https://doi.org/10.1596/1813-9450-6525 |
| work_keys_str_mv | AT sanchezjoseluisdiaz explainingthelastconsumptionboombustcycleinirelandtheroleofnewsandnoiseshocks |