Authors Research centers Disciplines & Collections Projects
Français English
 
 

Imperfect information in macroeconomics

 

Record

Type:   Article
 
Title:   Imperfect information in macroeconomics
 
Author(s):   Hubert, Paul - Observatoire français des conjonctures économiques (Author)
Ricco, Giovanni - Observatoire français des conjonctures économiques (Author)
 
In:   Revue de l'OFCE
 
Date issued:   2018-09
 
Publisher:   Paris  :  OFCE
 
Issue:   157
 
Pages:   181-196  p.
 
ISSN:   12659576
 
Keywords:   [en] Infomational frictions, Imperfect information, Economic policy
 
Abstract:   [en] This article presents some recent theoretical and empirical contributions to the macroeconomic literature that challenge the perfect information hypothesis. By taking into account the information frictions encountered by economic agents, it is possible to explain some of the empirical regularities that are difficult to rationalise in the standard framework of full information rational expectations. As an example, we discuss how the sign, size and persistence of the estimated effects of monetary and fiscal policies can change when the informational frictions experienced by economic agents are taken into account.
 
URL:   https://www.ofce.sciences-po.fr/pdf/revue/11-157OFCE.pdf
 
 

Files

Version Format File Size
Published version 11-157-2018-imperfect-information-in-macroeconomics-phubert.pdf 0.78 MB
 

Links resolver