Sluggish information diffusion and monetary policy shocks

Detalhes bibliográficos
Autor(a) principal: Gomes, O.
Data de Publicação: 2011
Outros Autores: Mendes, V.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://ciencia.iscte-iul.pt/public/pub/id/22740
http://hdl.handle.net/10071/9033
Resumo: The sticky-information model appeared in order to offer a more empirically consistent view on the effects of monetary policy than the one provided by the benchmark sticky prices setup. Such inattentiveness framework was built on the assumption that current decisions are mainly based on past expectations about the current state of the economy. In this note, we propose an explanation for information stickiness that goes beyond the simple idea of infrequent updating of expectations. The suggestive new feature is that contemporaneous decisions will depend on a process of information diffusion that is triggered by the relation between two rational players: the profit maximizing media industry and the private agents, who seek information in order to update prices.
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spelling Sluggish information diffusion and monetary policy shocksThe sticky-information model appeared in order to offer a more empirically consistent view on the effects of monetary policy than the one provided by the benchmark sticky prices setup. Such inattentiveness framework was built on the assumption that current decisions are mainly based on past expectations about the current state of the economy. In this note, we propose an explanation for information stickiness that goes beyond the simple idea of infrequent updating of expectations. The suggestive new feature is that contemporaneous decisions will depend on a process of information diffusion that is triggered by the relation between two rational players: the profit maximizing media industry and the private agents, who seek information in order to update prices.Economics Bulletin2015-06-12T16:58:01Z2011-01-01T00:00:00Z20112015-06-12T16:56:10Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://ciencia.iscte-iul.pt/public/pub/id/22740http://hdl.handle.net/10071/9033eng1545-2921Gomes, O.Mendes, V.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:59:34Zoai:repositorio.iscte-iul.pt:10071/9033Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:31:18.851902Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Sluggish information diffusion and monetary policy shocks
title Sluggish information diffusion and monetary policy shocks
spellingShingle Sluggish information diffusion and monetary policy shocks
Gomes, O.
title_short Sluggish information diffusion and monetary policy shocks
title_full Sluggish information diffusion and monetary policy shocks
title_fullStr Sluggish information diffusion and monetary policy shocks
title_full_unstemmed Sluggish information diffusion and monetary policy shocks
title_sort Sluggish information diffusion and monetary policy shocks
author Gomes, O.
author_facet Gomes, O.
Mendes, V.
author_role author
author2 Mendes, V.
author2_role author
dc.contributor.author.fl_str_mv Gomes, O.
Mendes, V.
description The sticky-information model appeared in order to offer a more empirically consistent view on the effects of monetary policy than the one provided by the benchmark sticky prices setup. Such inattentiveness framework was built on the assumption that current decisions are mainly based on past expectations about the current state of the economy. In this note, we propose an explanation for information stickiness that goes beyond the simple idea of infrequent updating of expectations. The suggestive new feature is that contemporaneous decisions will depend on a process of information diffusion that is triggered by the relation between two rational players: the profit maximizing media industry and the private agents, who seek information in order to update prices.
publishDate 2011
dc.date.none.fl_str_mv 2011-01-01T00:00:00Z
2011
2015-06-12T16:58:01Z
2015-06-12T16:56:10Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://ciencia.iscte-iul.pt/public/pub/id/22740
http://hdl.handle.net/10071/9033
url https://ciencia.iscte-iul.pt/public/pub/id/22740
http://hdl.handle.net/10071/9033
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1545-2921
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Economics Bulletin
publisher.none.fl_str_mv Economics Bulletin
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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