NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Optimal Monetary Policy with Informational Frictions

George-Marios Angeletos, Jennifer La'O

NBER Working Paper No. 17525
Issued in November 2011, Revised in March 2018

---- Acknowledgements ----

This paper extends, and subsumes, an earlier draft that concerned the same topic but contained a narrower methodological contribution (Angeletos and La’O, 2012). We benefited from comments received in numerous conferences and seminars. We thank Robert King and Philippe Bacchetta for discussing early versions of our paper. We are particularly grateful to the editor, Harald Uhlig, and three anonymous referees for detailed and constructive feedback on the latest version. We finally thank Karthik Sastry for research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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