Sunspot fluctuations ulnder zero nominal interest rates

Yasuo Hirose

doi:10.1016/j.econlet.2007.02.015

Sunspot fluctuations ulnder zero nominal interest rates

Yasuo Hirose

Research output: Contribution to journal › Article › peer-review

4 Citations (Scopus)

Abstract

We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation.

Original language	English
Pages (from-to)	39-45
Number of pages	7
Journal	Economics Letters
Volume	97
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2007.02.015
Publication status	Published - 2007 Oct
Externally published	Yes

Keywords

Bayesian analysis
Indeterminacy
Sunspots
Zero interest rates

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2007.02.015

Cite this

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title = "Sunspot fluctuations ulnder zero nominal interest rates",

abstract = "We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation.",

keywords = "Bayesian analysis, Indeterminacy, Sunspots, Zero interest rates",

author = "Yasuo Hirose",

year = "2007",

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doi = "10.1016/j.econlet.2007.02.015",

language = "English",

volume = "97",

pages = "39--45",

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AU - Hirose, Yasuo

PY - 2007/10

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N2 - We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation.

AB - We empirically examine to what extent self-fulfilling expectations, i.e. sunspots, affected macroeconomic fluctuations in Japan under the zero interest rate policy. According to our Bayesian estimation results, sunspots had substantial effects on both output and inflation.

KW - Bayesian analysis

KW - Indeterminacy

KW - Sunspots

KW - Zero interest rates

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DO - 10.1016/j.econlet.2007.02.015

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SN - 0165-1765

VL - 97

SP - 39

EP - 45

JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Sunspot fluctuations ulnder zero nominal interest rates

Abstract

Keywords

ASJC Scopus subject areas

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