EconPapers    
Economics at your fingertips  
 

Real Rigidity, Nominal Rigidity, and the Social Value of Information

George-Marios Angeletos (), Luigi Iovino () and Jennifer La'O ()

No 543, Working Papers from IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University

Abstract: Does welfare improve when ?firms are better informed about the state of the economy and can better coordinate their decisions? We address this question in an elementary business-cycle model that highlights how the dispersion of information can be the source of both nominal and real rigidity. Within this context we develop a taxonomy for how the social value of information depends on the two rigidities, on the sources of the business cycle, and on the conduct of monetary policy. JEL codes: C7, D6, D8. Keywords: Fluctuations, informational frictions, strategic complementarity, coordination, beauty contests, central-bank transparency.

Date: 2015
New Economics Papers: this item is included in nep-dge
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed

Downloads: (external link)
ftp://ftp.igier.unibocconi.it/wp/2015/543.pdf (application/pdf)

Related works:
Journal Article: Real Rigidity, Nominal Rigidity, and the Social Value of Information (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igi:igierp:543

Ordering information: This working paper can be ordered from
http://www.igier.unibocconi.it/en/papers/index.htm

Access Statistics for this paper

More papers in Working Papers from IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University via Rontgen, 1 - 20136 Milano (Italy).
Bibliographic data for series maintained by ().

 
Page updated 2020-03-30
Handle: RePEc:igi:igierp:543