A minimal self-reflexive confidence mechanism in a multi-household DSGE model generates multiple realistic output regimes including crises whose probability depends exponentially on parameters.
Keeping up with the joneses: Consumption externalities, portfolio choice, and asset prices
1 Pith paper cite this work. Polarity classification is still indexing.
1
Pith paper citing it
fields
q-fin.GN 1years
2019 1verdicts
UNVERDICTED 1representative citing papers
citing papers explorer
-
Confidence Collapse in a Multi-Household, Self-Reflexive DSGE Model
A minimal self-reflexive confidence mechanism in a multi-household DSGE model generates multiple realistic output regimes including crises whose probability depends exponentially on parameters.