Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/176048 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
Texto para discussão No. 565
Verlag: 
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia, Rio de Janeiro
Zusammenfassung: 
We study the interaction between dispersed and sticky information by assuming that firms receive private noisy signals about the state in an otherwise standard model of price setting with sticky-information. We show that there exists a unique equilibrium of the incomplete information game induced by the firms’ pricing decisions, and derive the resulting Sticky-Dispersed Information (SDI) Phillips curve. The (equilibrium) aggregate price level and the inflation rates we derive depend on all values they have taken in the past. We perform several numerical simulations to evaluate how the Sticky-Dispersed Phillips curve we derive respond to changes in the main parameters of the model.
Schlagwörter: 
Sticky information
dispersed information
Phillips curve JEL Codes: D82
D83
E31
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
394.84 kB





Publikationen in EconStor sind urheberrechtlich geschützt.