Optimal Policy with Dispersed Information and Uncertain Monetary Transmission

In a setting with dispersed information, monopolistic competition and sticky-prices, a policy authority uncertain about the monetary transmission mechanism reacts prudently to supply shocks. This induces producers to ascribe an excessive importance to their private information when setting prices. To correct the ensuing inefficiency a state-contingent fiscal policy is required

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Year of publication:	[2023]
Authors:	Femminis, Gianluca ; Piccirilli, Giulio
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Geldpolitik \| Monetary policy \| Geldpolitische Transmission \| Monetary transmission \| Informationsverbreitung \| Information dissemination \| Informationsökonomik \| Economics of information \| Externer Effekt \| Externalities \| Wohlfahrtsanalyse \| Welfare analysis \| Informationseffizienz \| Informational efficiency \| Steuerpolitik \| Tax policy \| Risiko \| Risk

Extent:	1 Online-Ressource (7 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4435060 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014357363