Optimal Monetary Policy with Informational Frictions

This paper studies optimal policy in a business-cycle setting in which firms have a blurry understanding of the state of the economy due to informational or cognitive constraints. The latter are not only the source of nominal rigidity but also an impediment in the coordination of production. The

本文研究了经济周期框架下的最优政策问题。该框架中，企业因信息约束或认知约束，对经济状态的认知存在模糊性。这类约束不仅是名义刚性的来源，同时也阻碍了生产协同的开展。