Imperfect information, shock heterogeneity, and inflation dynamics
We establish novel empirical regularities on firms' expectations about aggregate and idiosyncratic components of sectoral demand using industry-level survey data for the universe of Japanese firms. Expectations of the idiosyncratic component of demand differ across sectors, and they positively...
| Main Authors: | , , |
|---|---|
| 格式: | Working paper |
| 出版: |
University of Oxford
2019
|