Monetary Shocks in Models with Inattentive Producers
We study models where prices respond slowly to shocks because firms are rationally inattentive. Producers must pay a cost to observe the determinants of the current profit maximizing price, and hence observe them infrequently. To generate large real effects of monetary shocks in such a model the tim...
| Main Authors: | , , |
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| Format: | Online |
| Language: | English |
| Published: |
Oxford University Press
2016
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| Online Access: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4975074/ |