Browsing MIT Dept. of Economics Working Papers Series by Author "Angeletos, George-Marios"
Now showing items 1-4 of 4
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Cycles, Gaps, and the Social Value of Information
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2011-07-09)What are the welfare effects of the information contained in macroeconomic statistics, central-bank communications, or news in the media? We address this question in a business-cycle framework that nests the neoclassical ... -
Decentralizatiohn, Communication, and the Origins of Fluctuations
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2011-05-04)We consider a class of convex, competitive, neoclassical economies in which agents are rational; the equilibrium is unique; there is no room for randomization devices; and there are no shocks to preferences, technologies, ... -
Optimal Monetary Policy with Informational Frictions
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2011-11-05)We study optimal monetary policy in an environment in which firms’ pricing and production decisions are subject to informational frictions. Our framework accommodates multiple formalizations of these frictions, including ... -
Optimal Public Debt Management and Liquidity Provision
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-02-05)We study the Ramsey policy problem in an economy in which firms face a collateral constraint. Issuing more public debt alleviates this friction by increasing the aggregate quantity of collateral. In so doing, however, the ...
