Abstract:Economic fluctuation has always been an area where economists are committed to research and difficult to reach a consensus. The prevailing RBC theory in the West has been questioned by many parties in recent years and has been continuously improved. The "financial accelerator" theory is the most famous expansion. This paper holds that in addition to the "financial accelerator" effect, there is also an "information derailleur" effect in the economy:information will change their economic behavior by affecting the expectations of micro subjects, so that a small fluctuation may be amplified and changed by the "transmission", which may cause large economic fluctuations. This paper demonstrates the "information derailleur" effect in the economy by establishing the RBC model, and believes that the transmission of information may cause economic fluctuations in the short term, but the long-term release of information will smooth economic fluctuations, which also proves the positive effect of market effectiveness on the economy from another aspect. Based on this, this paper believes that reducing information control and realizing market efficiency is the necessary path to achieve long-term and stable economic growth.

Key words:information derailleur,economic fluctuation,business cycle