The Social Value of Information in a Business-Cycle Model

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

No 1299, 2015 Meeting Papers from Society for Economic Dynamics

Abstract: Does welfare improve when firms have more information about the state of the economy and can better coordinate their production and pricing decisions? We address this question in a business-cycle model that highlights how informational frictions can be the source of both nominal and real rigidity. We then elaborate on how the answer to this question depends on each of these rigidities, on the sources of the business cycle, and on the conduct of monetary policy.

Date: 2015
New Economics Papers: this item is included in nep-dge and nep-mac
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