Sticky Information in General Equilibrium
نویسندگان
چکیده
منابع مشابه
Sticky Information in General Equilibrium
This paper develops and analyzes a general-equilibrium model with sticky information. The only rigidity in goods, labor, and financial markets is that agents are inattentive, sporadically updating their information sets, when setting prices, wages, and consumption. After presenting the ingredients of such a model, the paper develops an algorithm to solve this class of models and uses it to stud...
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I offer a macroeconomic view of product markets that combines the desirable properties of the market-clearing models descended from the real business cycle model, on the one hand, and the sticky-price disequilibrium model of modern inflation analysis, on the other hand. I adhere strictly to the basic concept of equilibrium, in that buyers and sellers never transact in my model under conditions ...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2007
ISSN: 1542-4766,1542-4774
DOI: 10.1162/jeea.2007.5.2-3.603