| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16812 |
| DP16812 Rational Inattention and the Business Cycle Effects of Productivity and News Shocks | |
| Bartosz Mackowiak; Mirko Wiederholt | |
| 发表日期 | 2022-05-20 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We solve a real business cycle model with rational inattention (an RI-RBC model). In the standard model, news about future productivity fails to cause business cycle comovement. In response to a positive news shock, consumption rises but employment and investment fall. Introducing rational inattention helps produce comovement. Agents choose an optimal signal about the state of the economy. The optimal signal turns out to confound current with expected future productivity. Labor and investment demand rise after a news shock, causing an output expansion. Rational inattention also improves the propagation of a standard productivity shock, by inducing persistence. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Information choice Rational inattention Real business cycle model News shock Productivity shocks |
| URL | https://cepr.org/publications/dp16812-0 |
| 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/546349 |
| 推荐引用方式 GB/T 7714 | Bartosz Mackowiak,Mirko Wiederholt. DP16812 Rational Inattention and the Business Cycle Effects of Productivity and News Shocks. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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