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As the world's seventh largest wine producer (OIV, 2017), China plays a significant role in the world's wine industry. Classified as neither New or Old World it was recently classified into a "New, New World Category" (CNCCEF, 2009 Lawrence, 2016). This paper presents an overview of the Chinese...
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We introduce sentiments under incomplete information into an otherwise standard real business cycle model. Individual firms receive signals about their idiosyncratic demand shocks which are confounded by sentiments. Sentiments coordinate optimal decisions of individuals through their extraction...
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