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There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival...
Persistent link: https://www.econbiz.de/10011083558
strategies against the discretionary strategy of an informed currency trader: John Maynard Keynes. The fact that the strategies … outperformed a superior trader such as Keynes underscores the outsized nature of their returns. Our findings are robust to …
Persistent link: https://www.econbiz.de/10011084602