Publications [#320593] of Kyle Jurado

Journal Articles

  1. Chahrour, R; Jurado, K, News or noise? the missing link no. 228 (July, 2018), pp. 1702-1736, American Economic Association
    (last updated on 2019/08/20)

    Abstract:
    © 2018 American Economic Association. All rights reserved. The literature on belief-driven business cycles treats news and noise as distinct representations of agents' beliefs. We prove they are empirically the same. Our result lets us isolate the importance of purely belief-driven fluctuations. Using three prominent estimated models, we show that existing research understates the importance of pure beliefs. We also explain how differences in both economic environment and information structure affect the estimated importance of pure beliefs.