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- 09 Mar 2021
- Working Paper Summaries
Real Credit Cycles
- 2021
- Working Paper
Real Credit Cycles
By: Pedro Bordalo, Nicola Gennaioli, Andrei Shleifer and Stephen J. Terry
We incorporate diagnostic expectations, a psychologically founded model of overreaction to news, into a workhorse business cycle model with heterogeneous firms and risky debt. A realistic degree of diagnosticity, estimated from the forecast errors of managers of U.S.... View Details
Bordalo, Pedro, Nicola Gennaioli, Andrei Shleifer, and Stephen J. Terry. "Real Credit Cycles." NBER Working Paper Series, No. 28416, January 2021.
- Web
Research - Behavioral Finance & Financial Stability
. More Info Real Credit Cycles By: Pedro Bordalo , Nicola Gennaioli , Andrei Shleifer & Stephen J. Terry JAN 2021... View Details