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Optimal sticky prices under rational inattention

[PDF] from hu-berlin.de
B Maćkowiak… - CEPR Discussion Paper No. …, 2007 - papers.ssrn.com
Abstract: This paper presents a model in which price setting firms optimally decide what to
pay attention to, subject to a constraint on information flow. When idiosyncratic conditions
are more variable or more important than aggregate conditions, firms pay more attention ...
Cited by 222 - Related articles - Library Search - BL Direct - All 74 versions

[BOOK] Business cycle dynamics under rational inattention

[PDF] from nber.org
BA Mackowiak, M Wiederholt… - 2010 - nber.org
Abstract This paper develops a dynamic stochastic general equilibrium model with rational
inattention. Decisionmakers have limited attention and choose the optimal allocation of their
attention. We study the implications of rational inattention for business cycle dynamics. For ...
Cited by 57 - Related articles - View as HTML - Get it from MIT Libraries - Library Search - All 84 versions

Sectoral price data and models of price setting

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Full text - MIT Libraries
B Maćkowiak, E Moench… - Journal of Monetary Economics, 2009 - Elsevier
In the median sector, 100 percent of the long-run response of the sectoral price index to a
sector-specific shock occurs in the month of the shock. The standard Calvo model and the
standard sticky-information model can match this finding only under extreme assumptions ...
Cited by 32 - Related articles - Library Search - All 22 versions

[CITATION] mOptimal Sticky Prices under Rational Inattentionm

B Maśckowiak… - V American Economic Review, 2009
Cited by 12 - Related articles

[PDF] Exogenous information, endogenous information and optimal monetary policy

[PDF] from psu.edu
L Paciello… - Northwestern/EIEF Mimeo, 2011 - Citeseer
Abstract This paper studies optimal monetary policy when decision-makers in firms choose
how much attention they devote to aggregate conditions. When the amount of attention that
decisionmakers in firms devote to aggregate conditions is exogenous, complete price ...
Cited by 11 - Related articles - View as HTML - All 16 versions

[CITATION] kOptimal Sticky Prices under Rational Inattention, lHumboldt University

B Mackowiak… - 2007 - Northewestern University mimeo
Cited by 3 - Related articles

[PDF] Markets for Information and the Allocation of Capital across Countries

[PDF] from northwestern.edu
M Wiederholt - 2011 - faculty.wcas.northwestern.edu
Abstract This paper analyzes how much foreign investors know about different countries by
developing a model of the market for information and studying the quality of information that
is produced about different countries. In equilibrium, the market for information provides ...
Cited by 3 - Related articles - View as HTML - All 3 versions

[CITATION] nBusiness Cycle Dynamics under Rational Inatten& tion, oEuropean Central Bank

B Mackowiak… - 2009 - Nothwestern University mimeo
Cited by 2 - Related articles

[CITATION] Optimal Sticky Prices under Rational Inattendance

B Mackowiak… - 2007 - mimeo, Northwestern University, …
Cited by 2 - Related articles

[CITATION] lOptimal Sticky Prices under Rational Inattention, mforthcoming

B MaśCkowiak… - American Economic Review, 2008
Cited by 2 - Related articles - Get it from MIT Libraries

Optimal Sticky Prices under Rational Inattention

M Wiederholt… - 2005 Meeting Papers, 2005 - ideas.repec.org
This paper presents a model in which price setting firms optimally decide what to pay
attention to, subject to a constraint on information flow. When idiosyncratic conditions are
more variable or more important than aggregate conditions, firms pay more attention to ...
Cited by 2 - Related articles - Cached - All 4 versions

[CITATION] rRational Inattention. sprepared for the The New Palgrave Dictionary of Economics

M Wiederholt - 2010
Cited by 2 - Related articles

[PDF] Imperfect Information and Optimal Monetary Policy

[PDF] from psu.edu
L Paciello… - 2010 - Citeseer
Abstract Most of the analysis of optimal monetary policy is conducted with the Calvo model.
This paper studies optimal monetary policy when the slow adjustment of the price level is
due to imperfect information by decision-makers in firms. We consider two models: a ...
Cited by 2 - Related articles - View as HTML - All 17 versions

[CITATION] oBusiness Cycle Dynamics under Ra# tional Inattention, pWorking Paper

B Maśckowiak… - European Central Bank and Northwestern University, 2008
Cited by 1 - Related articles

Macroeconomic Dynamics under Rational Inattention

B Mackowiak… - Computing in Economics and …, 2006 - ideas.repec.org
This paper develops a general equilibrium model with Dixit-Stiglitz preferences,
monopolistic competition and rational inattention on the side of both households and firms.
We show how to solve a general equilibrium model with rational inattention. We use the ...
Cited by 1 - Related articles - Cached - All 5 versions

[PDF] Foreign Investment under Asymmetric Information when there exists a Market for Information

[PDF] from cepr.org.uk
M Wiederholt - 2001 - cepr.org.uk
Abstract We are interested in how much investors know about the country, sector or firm they
invest in. Therefore we develop a model of a market for information and study the
equilibrium quality of the traded information. The demand for information is derived from a ...
Related articles - View as HTML - All 9 versions

DP7691 Business Cycle Dynamics under Rational Inattention

BA Mackowiak… - 2010 - cepr.org
This paper develops a dynamic stochastic general equilibrium model with rational
inattention. Households and decision-makers in firms have limited attention and decide how
to allocate their attention. The paper studies the implications of rational inattention for ...
Cached - All 3 versions

[PDF] rational inattention

[PDF] from northwestern.edu
M Wiederholt - The New Palgrave Dictionary of …, 2010 - faculty.wcas.northwestern.edu
Abstract Economists have studied for a long time how decision-makers allocate scarce
resources. The recent literature on rational inattention studies how decision-makers allocate
the scarce resource attention. The idea is that decision-makers have a limited amount of ...
Cited by 1 - Related articles - View as HTML - All 4 versions

[CITATION] A Model of Optimal Sticky Prices Under Rational Inattention

B Mackowiak… - 2004
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[PDF] How different are Constant Interest Rate Inflation Forecasts from Variable Interest Rate Inflation Forecasts?

[PDF] from hu-berlin.de
B Erdogan, M Wiederholt… - enim.wiwi.hu-berlin.de
Abstract The question this paper tries to clarify is whether constant interest rate inflation
targeting differs much from variable interest rate inflation targeting. The problem is analysed
in the framework of a New Keynesian dynamic stochastic general equilibrium model. Our ...
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[PDF] Business Cycle Dynamics under Catching Up with the Joneses Preferences in Leisure

[PDF] from hu-berlin.de
T Hildebrand… - zope2.wiwi.hu-berlin.de
Abstract In real business cycle models, the concept of habit formation, which can explain
phenomena such as the equity premium puzzle, is mostly restricted to the consumption part
of the utility function of the representative household. At least, a detailed analysis of the ...
Related articles - View as HTML - All 14 versions

DP7339 Sectoral Price Data and Models of Price Setting

BA Mackowiak, E Moench… - 2009 - cepr.org
We estimate impulse responses of sectoral price indexes to aggregate shocks and to sector-
specific shocks. In the median sector, 100 percent of the long-run response of the sectoral
price index to a sector-specific shock occurs in the month of the shock. The standard ...
Cached - All 4 versions

[CITATION] Markets for information, allocation of capital and growth in open economies

M Wiederholt - 2003 - cadmus.eui.eu
Full-text contained in Cadmus is protected by copyright law and may be downloaded for
personal research purposes only. Any additional reproduction for other purposes, whether in
hard copy or electronically, requires the consent of the copyright holder (s).
Cached - Library Search - All 4 versions

[PDF] Information Processing and Limited Liability

[PDF] from northwestern.edu
B Mackowiak… - 2012 - faculty.wcas.northwestern.edu
Abstract Decision-makers often face limited liability and thus know that their loss will be
bounded. We study how limited liability affects the behavior of an agent who chooses how
much information to acquire and process in order to take a good decision. We find that an ...
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[PDF] Endogenous Rate of Return Wedges and Capital Accumulation in Open Economies

[PDF] from northwestern.edu
M Wiederholt - unpublished paper, European …, 2001 - faculty.wcas.northwestern.edu
Abstract Accumulation of foreign capital has been an important source of growth in many
countries. When capital is internationally mobile the standard neoclassical growth model
generates counterfactual predictions: capital jumps instantaneously to its longrun value ...
Related articles - View as HTML - All 9 versions

[PDF] BUSINESS CYCLE DYNAMICS UNDER RATIONAL INATTENTION

[PDF] from northwestern.edu
M Wiederholt - 2010 - faculty.wcas.northwestern.edu
This paper develops a dynamic stochastic general equilibrium model with rational
inattention. Households and decision-makers in firms have limited attention and decide how
to allocate their attention. The paper studies the implications of rational inattention for ...
Related articles - View as HTML

DP6243 Optimal Sticky Prices under Rational Inattention

BA Mackowiak… - 2007 - cepr.org
This paper presents a model in which price setting firms optimally decide what to pay
attention to, subject to a constraint on information flow. When idiosyncratic conditions are
more variable or more important than aggregate conditions, firms pay more attention to ...
Cached - All 4 versions

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