Noisy Business Cycles
This paper investigates a real-business-cycle economy that features dispersed information about the underlying aggregate productivity shocks, taste shocks, and—potentially—shocks to monopoly power. We show how the dispersion of information can (i) contribute to significant inertia in the response...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Book chapter |
| Language: | en_US |
| Published: |
University of Chicago Press
2010
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| Online Access: | http://hdl.handle.net/1721.1/52398 https://orcid.org/0000-0002-9269-5094 |