期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2011
出版社：European Central Bank
摘要：We develop a dynamic stochastic general equilibrium model with rational inattention by households and rms. Consumption responds slowly to interest rate changes because households decide to pay little attention to the real interest rate. Prices respond quickly to some shocks and slowly to other shocks. The mix of fast and slow responses of prices to shocks matches the pattern found in the empirical literature. Changes in the conduct of monetary policy yield very dierent outcomes than in models currently used at central banks because systematic changes in policy cause reallocation of attention by decision-makers in households and rms.
关键词：information choice; rational inattention; monetary policy; business cycles.
