Dispersed Information, Nominal Rigidities and Monetary Business Cycles: A Hayekian Perspective
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We study the propagation of nominal shocks in a dispersed information economy where firms learn from and respond to information generated by their activities in product and factor markets. We prove the existence of a Hayekian benchmark, defined by conditions under which imperfect information has no
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美国国家经济研究局创建时间：
2024-12-01
