| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5407 |
| DP5407 C-CAPM Without Ex Post Data | |
| Paul Söderlind | |
| 发表日期 | 2005-12-16 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | I present and solve the problem of a producer who faces costs of acquiring, absorbing, and processing information. I establish a series of theoretical results describing the producer's behaviour. First, I find the conditions under which she prefers to set a plan for the price she charges, or instead prefers to set a plan for the quantity she sells. Second, I show that the agent rationally chooses to be inattentive to news, only sporadically updating her information. I solve for the optimal length of inattentiveness and characterize its determinants. Third, I explicitly aggregate the behaviour of many such producers. I apply these results to a model of inflation. I find that the model can fit the quantitative facts on post-war inflation remarkably well, that it is a good forecaster of future inflation, and that it survives the Lucas critique by fitting also the pre-war facts on inflation moderately well. |
| 主题 | International Macroeconomics |
| 关键词 | Inattentiveness Production Pricing under uncertainty inflation Sticky information |
| URL | https://cepr.org/publications/dp5407 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534266 |
| 推荐引用方式 GB/T 7714 | Paul Söderlind. DP5407 C-CAPM Without Ex Post Data. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Paul Söderlind]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Paul Söderlind]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Paul Söderlind]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
