| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6218 |
| DP6218 Offshoring: General Equilibrium Effects on Wages, Production and Trade | |
| Richard Baldwin; Frédéric Robert-Nicoud | |
| 发表日期 | 2007-04-23 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | 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 idiosyncratic conditions than to aggregate conditions. When we calibrate the model to match the large average absolute size of price changes observed in micro data, prices react fast and by large amounts to idiosyncratic shocks, but prices react only slowly and by small amounts to nominal shocks. Nominal shocks have strong and persistent real effects. We use the model to investigate how the optimal allocation of attention and the dynamics of prices depend on the firms' environment. |
| 主题 | International Macroeconomics |
| 关键词 | Rational inattention Real effects of nominal shocks Sticky prices |
| URL | https://cepr.org/publications/dp6218 |
| 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/535077 |
| 推荐引用方式 GB/T 7714 | Richard Baldwin,Frédéric Robert-Nicoud. DP6218 Offshoring: General Equilibrium Effects on Wages, Production and Trade. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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