| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14577 |
| DP14577 Learning over the Business Cycle: Policy Implications | |
| George-Marios Angeletos; Luigi Iovino; Jennifer La'O | |
| 发表日期 | 2020-04-07 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper studies the policy implications of the endogeneity of information about the state of the economy. The business cycle can be made less noisy, and more efficient, by incentivizing firms to vary their pricing and production decisions more with their beliefs about the state of the economy. This calls for countercyclical taxes complemented by a monetary policy that “leans against the wind.” The optimal policies trade-off allocative efficiency for informational efficiency. |
| 主题 | Monetary Economics and Fluctuations ; Public Economics |
| URL | https://cepr.org/publications/dp14577 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543484 |
| 推荐引用方式 GB/T 7714 | George-Marios Angeletos,Luigi Iovino,Jennifer La'O. DP14577 Learning over the Business Cycle: Policy Implications. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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