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dc.contributor.authorWesterhoff, Franken_US
dc.date.accessioned2012-01-27en_US
dc.date.accessioned2012-02-03T13:07:34Z-
dc.date.available2012-02-03T13:07:34Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-931052-95-9en_US
dc.identifier.urihttp://hdl.handle.net/10419/54992-
dc.description.abstractWe develop a simple behavioral macro model to study interactions between the real economy and the stock market. The real economy is represented by a Keynesian goods market approach while the setup for the stock market includes heterogeneous speculators. Using a mixture of analytical and numerical tools we find, for instance, that speculators may create endogenous boom-bust dynamics in the stock market which, by spilling over into the real economy, can cause lasting fluctuations in economic activity. However, fluctuations in economic activity may, by shaping the firms' fundamental values, also have an impact on the dynamics of the stock market.en_US
dc.language.isoengen_US
dc.publisherBERG Bambergen_US
dc.relation.ispartofseriesBERG Working Paper Series 84en_US
dc.subject.jelD84en_US
dc.subject.jelE12en_US
dc.subject.jelG12en_US
dc.subject.ddc330en_US
dc.subject.keywordgoods marketen_US
dc.subject.keywordstock marketen_US
dc.subject.keywordheterogeneous speculatorsen_US
dc.subject.keywordstability analysisen_US
dc.subject.keywordcomplex dynamicsen_US
dc.titleInteractions between the real economy and the stock marketen_US
dc.typeWorking Paperen_US
dc.identifier.ppn684357291en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bamber:84-
Appears in Collections:BERG Working Paper Series, Universität Bamberg

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