Monetary Shocks in Models with Inattentive Producers
NBER Working Paper No. 20817
---- Acknowledgments ----
We thank Carlos Carvalho, Xavier Gabaix, Christian Hellwig, Pat Kehoe, Herve Le Bihan, Bartosz Mackowiak, Ricardo Reis, Victor Rios-Rull as well as seminar participants at UCL, EIEF, the Bank of England, ECB, International Network on Expectations and Coordination at NYU, NBER Summer Institute 2012, “Rational Inattention and Related Theories” Prague 2012 and Oxford 2014, Tor Vergata University, and T2M Conference at Lausanne University for their comments. Part of the research for this paper was sponsored by the ERC advanced grant 324008. Philip Barrett provided excellent 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.