| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13761 |
| DP13761 A Rational Inattention Unemployment Trap | |
| Martin Ellison; Alistair Macaulay | |
| 发表日期 | 2019-05-28 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We show that introducing rational inattention into a model with uninsurable unemployment risk can generate multiple steady states, when the same model with full information has a unique steady state. The model features heterogeneity and persistence in household labour market expectations, consistent with survey evidence. In a heterogeneous agent New Keynesian model, we find that rational inattention to the future hiring rate generates a high employment steady state with moderate inflation, and an unemployment trap with very low (but positive) inflation and a low job hiring rate. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Multiple equilibria Rational inattention Unemployment |
| URL | https://cepr.org/publications/dp13761 |
| 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/542626 |
| 推荐引用方式 GB/T 7714 | Martin Ellison,Alistair Macaulay. DP13761 A Rational Inattention Unemployment Trap. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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