A note on conspicuous leisure, animal spirits and endogenous cycles

Bibliographic Details
Main Author: Weder, Mark
Publication Date: 2004
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/15486
Summary: This paper investigates general equilibrium effects of conspicuous leisure. It finds that leisure externalities reduce the degree of other market im- perfections needed to generate indeterminacy or sunspot equilibria – endogneous cycles become empirically more plausible. Sunspot equilibria are possible with a downward-sloping labor demand schedule. The economic reasoning behind the result is that with conspicuous-externalities, labor is drawn more easily in and out of leisure to help fulfill agents’ expectations.
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spelling A note on conspicuous leisure, animal spirits and endogenous cyclesConspicuous leisureBusiness cyclesIndeterminacyIrregular economiesSunspotsThis paper investigates general equilibrium effects of conspicuous leisure. It finds that leisure externalities reduce the degree of other market im- perfections needed to generate indeterminacy or sunspot equilibria – endogneous cycles become empirically more plausible. Sunspot equilibria are possible with a downward-sloping labor demand schedule. The economic reasoning behind the result is that with conspicuous-externalities, labor is drawn more easily in and out of leisure to help fulfill agents’ expectations.Springer VerlagRepositório da Universidade de LisboaWeder, Mark2018-05-24T14:22:03Z2004-042004-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15486engWeder, Mark (2004). "A note on conspicuous leisure, animal spirits and endogenous cycles". Portuguese Economic Journal, 3(1):1-131617-982X (print)10.1007/s10258-004-0026-ymetadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-17T16:23:19Zoai:repositorio.ulisboa.pt:10400.5/15486Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:12:18.421286Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv A note on conspicuous leisure, animal spirits and endogenous cycles
title A note on conspicuous leisure, animal spirits and endogenous cycles
spellingShingle A note on conspicuous leisure, animal spirits and endogenous cycles
Weder, Mark
Conspicuous leisure
Business cycles
Indeterminacy
Irregular economies
Sunspots
title_short A note on conspicuous leisure, animal spirits and endogenous cycles
title_full A note on conspicuous leisure, animal spirits and endogenous cycles
title_fullStr A note on conspicuous leisure, animal spirits and endogenous cycles
title_full_unstemmed A note on conspicuous leisure, animal spirits and endogenous cycles
title_sort A note on conspicuous leisure, animal spirits and endogenous cycles
author Weder, Mark
author_facet Weder, Mark
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Weder, Mark
dc.subject.por.fl_str_mv Conspicuous leisure
Business cycles
Indeterminacy
Irregular economies
Sunspots
topic Conspicuous leisure
Business cycles
Indeterminacy
Irregular economies
Sunspots
description This paper investigates general equilibrium effects of conspicuous leisure. It finds that leisure externalities reduce the degree of other market im- perfections needed to generate indeterminacy or sunspot equilibria – endogneous cycles become empirically more plausible. Sunspot equilibria are possible with a downward-sloping labor demand schedule. The economic reasoning behind the result is that with conspicuous-externalities, labor is drawn more easily in and out of leisure to help fulfill agents’ expectations.
publishDate 2004
dc.date.none.fl_str_mv 2004-04
2004-04-01T00:00:00Z
2018-05-24T14:22:03Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/15486
url http://hdl.handle.net/10400.5/15486
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Weder, Mark (2004). "A note on conspicuous leisure, animal spirits and endogenous cycles". Portuguese Economic Journal, 3(1):1-13
1617-982X (print)
10.1007/s10258-004-0026-y
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833601980576038912

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