We seed noisy information to members of a real-world social network to study how information diffusion and information aggregation jointly shape social learning. Our environment features substantial social learning. We show that learning occurs via diffusion which is highly imperfect: signals...

This paper analyses the output composition of the monetary policy transmission mechanism in Australia. We use four VAR models and the measures as in Fujiwara (2004) and Angeloni, Kashyap, Mojon and Terlizzese (2003) to estimate the consumption and investment contributions in output reactions to...