Internal and external habits and news-driven business cycles

An internal habit can be a source of news-driven business cycles, positive comovements in consumption, labor, investment, and output from the news about the future, whereas an external habit cannot.

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Year of publication:	2010
Authors:	Nutahara, Kengo
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 107.2010, 2, p. 300-303
Publisher:	Elsevier
Keywords:	Habit persistence Internal habit External habit News-driven business cycles

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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