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...

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Những tác giả chính: Zanetti, F, Okuda, T, Tsuruga, T
Định dạng: Working paper
Được phát hành: University of Oxford 2019