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George-Marios Angeletos

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Alberto Alesina & George-Marios Angeletos, 2004. "Fairness and Redistribution," NajEcon Working Paper Reviews 122247000000000306, www.najecon.org.

    Mentioned in:

    1. Regulation and Distrust
      by Inaki Villanueva in Applied economist on 2016-04-27 19:54:00
  2. George-Marios Angeletos & Jennifer La'O, 2011. "Decentralization, Communication, and the Origins of Fluctuations," NBER Working Papers 17060, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Demand in the gaps?
      by Noah Smith in Noahpinion on 2014-07-13 12:27:00
  3. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2007. "Wall Street and Silicon Valley: A Delicate Interaction," NBER Working Papers 13475, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. “Wall Street and Silicon Valley: A Delicate Interaction,” G.-M. Angeletos, G. Lorenzoni & A. Pavan (2012)
      by afinetheorem in A Fine Theorem on 2014-03-06 17:22:41

    Mentioned in:

    1. Journal session on personality and economics
      by Liam Delaney in Economics and Psychology Research on 2012-05-04 17:58:00
    2. Eye-Tracking
      by Liam Delaney in Geary Behaviour Centre on 2010-03-20 01:05:00

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. George-Marios Angeletos & Karthik Sastry, 2019. "Managing Expectations without Rational Expectations," 2019 Meeting Papers 1537, Society for Economic Dynamics.

    Mentioned in:

    1. > Macroeconomics > Monetary Theory

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. George-Marios Angeletos & Ivan Werning, 2004. "Crises and Prices: Information Aggregation, Multiplicity and Volatility," NBER Working Papers 11015, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Iván Werning in Wikipedia (German)

Working papers

  1. George-Marios Angeletos & Chen Lian & Christian K. Wolf, 2024. "Deficits and Inflation: HANK meets FTPL," NBER Working Papers 33102, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    2. Yingwei Dong & Tirupam Goel & Emanuel Kohlscheen & Philip Wooldridge, 2025. "Keeping the momentum: how finance can continue to support growth in EMEs," BIS Papers chapters, in: Bank for International Settlements (ed.), How can central banks take account of differences across households and firms for monetary policy?, volume 127, pages 1-32, Bank for International Settlements.
    3. Vasileios Karaferis, 2025. "Inequality, Labour Market Dynamics and the Policy Mix: Insights from a FLANK," Edinburgh School of Economics Discussion Paper Series 319, Edinburgh School of Economics, University of Edinburgh.
    4. Jonathon Hazell & Stephan Hobler, 2024. "Do Deficits Cause Inflation? A High Frequency Narrative Approach," Discussion Papers 2439, Centre for Macroeconomics (CFM).
    5. Kwicklis, Noah, 2025. "Active vs. passive policy and the trade-off between output and inflation in HANK," Journal of Monetary Economics, Elsevier, vol. 151(C).
    6. Shim, Myungkyu & Kim, Kwang Hwan & Lee, Myunghwan & Choi, Sangyup & Bae, Siye & Coibion, Olivier & Gorodnichenko, Yuriy, 2026. "The Effects of Fiscal News on Household Expectations and Spending: New Causal Evidence," IZA Discussion Papers 18486, IZA Network @ LISER.
    7. Jonathon Hazell & Stephan Hobler, 2025. "Do Deficits Cause Inflation? A High Frequency Narrative Approach," Discussion Papers 2505, Centre for Macroeconomics (CFM).

  2. George-Marios Angeletos & Chen Lian & Christian K. Wolf, 2023. "Can Deficits Finance Themselves?," NBER Working Papers 31185, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    2. M. Yu. Andreev, 2025. "Deep Consumer Habits and Fiscal Policy Shocks," Studies on Russian Economic Development, Springer, vol. 36(1), pages 53-65, February.
    3. Jianjun Miao & Zhouxiang Shen & Dongling Su, 2025. "Inflation and Debt Rollover Under Low Interest Rates," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(5), pages 1781-1807, December.
    4. Gergő Motyovszki & Philipp Pfeiffer & Jan in ’t Veld, 2024. "The Implications of Public Investment for Debt Sustainability," European Economy - Discussion Papers 204, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Jonathon Hazell & Stephan Hobler, 2024. "Do Deficits Cause Inflation? A High Frequency Narrative Approach," Discussion Papers 2439, Centre for Macroeconomics (CFM).
    6. Diamond, William & Landvoigt, Tim & Sánchez, Germán Sánchez, 2025. "Printing away the mortgages: Fiscal inflation and the post-covid boom," Journal of Financial Economics, Elsevier, vol. 171(C).
    7. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624v2, University of Bonn and University of Mannheim, Germany, revised Sep 2025.
    8. R. Anton Braun & Daisuke Ikeda, 2025. "Monetary Policy Over the Lifecycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 56, April.
    9. Jonas E. Arias & Juan F. Rubio-Ramirez & Minchul Shin, 2026. "Are Fiscal Transfers Inflationary?," Working Papers 26-23, Federal Reserve Bank of Philadelphia.
    10. Fernández Romero, Daniel, 2025. "The fiscal multiplier in presence of unconventional monetary policy: Evidence for 17 OECD countries," Economic Modelling, Elsevier, vol. 147(C).
    11. Cristina Arellano, 2026. "Comment on "What About Japan?" 2," NBER Chapters, in: NBER Macroeconomics Annual 2026, volume 41, National Bureau of Economic Research, Inc.
    12. Greg Kaplan, 2025. "Fiscal-Monetary Interactions in the 2020's: Some Insights from HANK Models," RBA Annual Conference Papers acp2025-02, Reserve Bank of Australia, revised Nov 2025.
    13. Hanno Kase & Leonardo Melosi & Sebastian Rast & Matthias Rottner, 2026. "The perils of narrowing fiscal spaces," BIS Working Papers 1328, Bank for International Settlements.
    14. Kopiec, Paweł, 2024. "Monetary-Fiscal Forward Guidance," MPRA Paper 120563, University Library of Munich, Germany.
    15. Elfsbacka Schmöller, Michaela & McClung, Nigel, 2024. "Can growth stabilize debt? A fiscal theory perspective," Bank of Finland Research Discussion Papers 2/2024, Bank of Finland, revised 2024.
    16. Guido Ascari & Dennis Bonam & Lorenzo Mori & Andra Smadu, 2024. "Fiscal Policy and Inflation in the Euro Area," Working Papers 820, DNB.
    17. Valerie A. Ramey, 2026. "Do Temporary Cash Transfers Stimulate the Macroeconomy? Evidence from Four Case Studies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 74(1), pages 1-35, March.
    18. Jonathon Hazell & Stephan Hobler, 2025. "Do Deficits Cause Inflation? A High Frequency Narrative Approach," Discussion Papers 2505, Centre for Macroeconomics (CFM).
    19. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2026. "The redistributive power of business cycle fluctuations," Working Papers 2026-2, Faculty of Economic Sciences, University of Warsaw.

  3. George-Marios Angeletos & Chen Lian, 2022. "Dampening General Equilibrium: Incomplete Information and Bounded Rationality," NBER Working Papers 29776, National Bureau of Economic Research, Inc.

    Cited by:

    1. Michael D. Bauer & Carolin E. Pflueger & Adi Sunderam, 2022. "Perceptions about Monetary Policy," CESifo Working Paper Series 10182, CESifo.
    2. Dobrew, Michael & Gerke, Rafael & Kienzler, Daniel & Schwemmer, Alexander, 2023. "Monetary policy rules under bounded rationality," Discussion Papers 18/2023, Deutsche Bundesbank.
    3. Kim, Hyeongwoo & Shao, Peng & Zhang, Shuwei, 2023. "Policy coordination and the effectiveness of fiscal stimulus," Journal of Macroeconomics, Elsevier, vol. 75(C).

  4. George-Marios Angeletos & Chen Lian, 2021. "Determinacy without the Taylor Principle," NBER Working Papers 28881, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    2. Ascari, Guido & Mavroeidis, Sophocles & McClung, Nigel, 2023. "Coherence without rationality at the zero lower bound," Journal of Economic Theory, Elsevier, vol. 214(C).
    3. Jonathan J Adams, 2024. "Optimal Policy Without Rational Expectations: A Sufficient Statistic Solution," Working Papers 001011, University of Florida, Department of Economics.
    4. Jonathan J Adams & Philip Barrett, 2022. "Shocks to Inflation Expectations," Working Papers 001007, University of Florida, Department of Economics.
    5. Tom D. Holden, 2024. "Robust Real Rate Rules," Econometrica, Econometric Society, vol. 92(5), pages 1521-1551, September.
    6. George‐Marios Angeletos & Chen Lian & Christian K. Wolf, 2024. "Can Deficits Finance Themselves?," Econometrica, Econometric Society, vol. 92(5), pages 1351-1390, September.
    7. Katsuyuki Shibayama, 2026. "The Duality of Dynamics: Real-Time Indeterminacy and Notional-Time Instability," Studies in Economics 2603, School of Economics, University of Kent.
    8. Roulleau-Pasdeloup, Jordan, 2023. "Analyzing Linear DSGE models: the Method of Undetermined Markov States," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    9. Jonathan J Adams, 2023. "Equilibrium Determinacy With Behavioral Expectations," Working Papers 001008, University of Florida, Department of Economics.
    10. Kokonas, Nikolaos & Rousakis, Michalis & Smyrniotis, Efthymios, 2025. "Controlling inflation with central bank news," European Economic Review, Elsevier, vol. 180(C).
    11. Elfsbacka Schmöller, Michaela & McClung, Nigel, 2024. "Can growth stabilize debt? A fiscal theory perspective," Bank of Finland Research Discussion Papers 2/2024, Bank of Finland, revised 2024.

  5. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.

    Cited by:

    1. Peter Andre & Carlo Pizzinelli & Christopher Roth & Johannes Wohlfart, 2021. "Subjective Models of the Macroeconomy: Evidence From Experts and Representative Samples," ECONtribute Discussion Papers Series 119, University of Bonn and University of Cologne, Germany.
    2. George-Marios Angeletos & Chen Lian, 2020. "Confidence and the Propagation of Demand Shocks," NBER Working Papers 27702, National Bureau of Economic Research, Inc.
    3. Shintani, Mototsugu & Ueda, Kozo, 2023. "Identifying the source of information rigidities in the expectations formation process," Journal of Economic Dynamics and Control, Elsevier, vol. 150(C).
    4. Bianchi-Vimercati, Riccardo & Eichenbaum, Martin & Guerreiro, Joao, 2024. "Fiscal stimulus with imperfect expectations: Spending vs. tax policy," Journal of Economic Theory, Elsevier, vol. 217(C).
    5. Funaki, Yukihiko & Kawamura, Kohei & Ueda, Kozo & Uto, Nobuyuki, 2025. "Price stickiness and strategic uncertainty: An experimental study," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
    6. Francesco Bianchi & Martin Lettau & Sydney C. Ludvigson, 2022. "Monetary Policy and Asset Valuation," Journal of Finance, American Finance Association, vol. 77(2), pages 967-1017, April.
    7. Alistair Macaulay & James Moberly, 2022. "Heterogeneity in imperfect inflation expectations:theory and evidence from a novel survey," Economics Series Working Papers 970, University of Oxford, Department of Economics.
    8. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2024. "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2427, Aix-Marseille School of Economics, France.
    9. Han, Zhao & Tan, Fei & Wu, Jieran, 2022. "Analytic policy function iteration," Journal of Economic Theory, Elsevier, vol. 200(C).
    10. Kuang, Pei & Tang, Li & Zhang, Renbin & Zhang, Tongbin, 2022. "Forecast disagreement about long-run macroeconomic relationships," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 371-387.
    11. Cornand, Camille & Hubert, Paul, 2022. "Information frictions across various types of inflation expectations," European Economic Review, Elsevier, vol. 146(C).
    12. Stéphane Dupraz & Magali Marx, 2023. "Anchoring Boundedly Rational Expectations," Working papers 936, Banque de France.
    13. Richard K. Crump & Stefano Eusepi & Emanuel Moench & Bruce Preston, 2021. "The Term Structure of Expectations," Staff Reports 992, Federal Reserve Bank of New York.
    14. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    15. J. Daniel Aromí & Martín Llada, 2024. "Are professional forecasters inattentive to public discussions? The case of inflation in Argentina," Working Papers 300, Red Nacional de Investigadores en Economía (RedNIE).
    16. Gáti, Laura, 2022. "Monetary policy & anchored expectations: an endogenous gain learning model," Working Paper Series 2685, European Central Bank.
    17. Jonas D. M. Fisher & Leonardo Melosi & Sebastian Rast, 2025. "Long-Run Inflation Expectations," Working Paper Series WP 2025-03, Federal Reserve Bank of Chicago.
    18. Timo Dimitriadis & Marius Puke, 2026. "Statistical Inference for Score Decompositions," Papers 2603.04275, arXiv.org.
    19. Ina Hajdini, 2022. "Mis-specified Forecasts and Myopia in an Estimated New Keynesian Model," Working Papers 22-03R, Federal Reserve Bank of Cleveland, revised 06 Mar 2023.
    20. Jonathan J Adams, 2024. "Optimal Policy Without Rational Expectations: A Sufficient Statistic Solution," Working Papers 001011, University of Florida, Department of Economics.
    21. Boccanfuso, Jérémy & Neri, Luca, 2025. "Uncovering attention heterogeneity," LIDAM Discussion Papers CORE 2025009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    22. Chua, Yeow Hwee & Hong, Zu Yao, 2026. "Tail risk and expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 242(C).
    23. José-Elías Gallegos, 2023. "Inflation persistence, noisy information and the Phillips curve," Working Papers 2309, Banco de España.
    24. Foltas, Alexander, 2023. "Quantifying priorities in business cycle reports: Analysis of recurring textual patterns around peaks and troughs," Working Papers 44, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    25. Mengus, Eric & Andrade, Philippe & Gautier, Erwan, 2020. "What Matters in Households' Inflation Expectations?," CEPR Discussion Papers 14905, Centre for Economic Policy Research.
    26. Constantin Bürgi & Julio L. Ortiz, 2022. "Overreaction through Anchoring," CESifo Working Paper Series 10193, CESifo.
    27. Goldstein, Nathan, 2025. "The attention of the Fed," Finance Research Letters, Elsevier, vol. 82(C).
    28. Yuliya Rychalovska & Sergey Slobodyan & Rafael Wouters, 2023. "Professional Survey Forecasts and Expectations in DSGE Models," CERGE-EI Working Papers wp766, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    29. Lustenhouwer, Joep & Salle, Isabelle, 2025. "Learning to be rational in the presence of news: A lab investigation," European Economic Review, Elsevier, vol. 172(C).
    30. Na, Seunghoon & Yoo, Donghoon, 2025. "Overreaction and macroeconomic fluctuation of the external balance," Journal of Monetary Economics, Elsevier, vol. 151(C).
    31. Adam, Klaus & Pfäuti, Oliver & Reinelt, Timo, 2025. "Subjective housing price expectations, falling natural rates, and the optimal inflation target," Journal of Monetary Economics, Elsevier, vol. 149(C).
    32. Hagenhoff, Tim & Lustenhouwer, Joep, 2023. "The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
    33. Hajdini, Ina & Knotek, Edward S. & Leer, John & Pedemonte, Mathieu & Rich, Robert & Schoenle, Raphael, 2024. "Indirect consumer inflation expectations: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 145(S).
    34. Filippo Natoli & Sharath Sonti, 2026. "Overconfident forecasters and the impact of inflation information: evidence from a randomized survey experiment," Temi di discussione (Economic working papers) 1532, Bank of Italy, Economic Research and International Relations Area.
    35. Alistair Macaulay & James Moberly, 2026. "Heterogeneity in Imperfect Inflation Expectations: Theory and Evidence from a Novel Survey," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(4), pages 969-994, June.
    36. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    37. Kohlhas, Alexandre N. & Robertson, Donald, 2025. "Cautious expectations," Journal of Monetary Economics, Elsevier, vol. 155(S).
    38. Erwan Gautier & Frédérique Savignac & Olivier Coibion, 2025. "Firms’ Inflation and Wage Expectations during the Inflation Surge," Working papers 995, Banque de France.
    39. Klaus Adam & Pei Kuang & Shihan Xie, 2025. "Overconfidence in Private Information Explains Biases in Professional Forecasts," CRC TR 224 Discussion Paper Series crctr224_2025_617, University of Bonn and University of Mannheim, Germany.
    40. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    41. Jean-Paul L’Huillier & Sanjay R. Singh & Donghoon Yoo, 2023. "Incorporating Diagnostic Expectations into the New Keynesian Framework," Working Paper Series 2023-19, Federal Reserve Bank of San Francisco.
    42. Alexandre Kohlhas & Vladimir Asriyan, 2025. "The Macroeconomics of Data: Scale, Product Choice, and Pricing in the Information Age," Economics Series Working Papers 1073, University of Oxford, Department of Economics.
    43. Hagenhoff, Tim & Lustenhouwer, Joep, 2020. "The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations," BERG Working Paper Series 163, Bamberg University, Bamberg Economic Research Group.
    44. John Gallemore & Stephan Hollander & Martin Jacob & Xiang Zheng, 2025. "Tax Policy Expectations and Investment," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 63(1), pages 363-412, March.
    45. Benchimol, Jonathan & Bounader, Lahcen, 2023. "Optimal monetary policy under bounded rationality," Journal of Financial Stability, Elsevier, vol. 67(C).
    46. Paul Levine & Joseph Pearlman & Bo Yang & Son Pham, 2025. "Recent Developments in DSGE Modelling: Beyond FIRE," South Asian Journal of Macroeconomics and Public Finance, , vol. 14(1), pages 11-43, June.
    47. Jonathan J Adams, 2023. "Equilibrium Determinacy With Behavioral Expectations," Working Papers 001008, University of Florida, Department of Economics.
    48. Tianhao Wu, 2024. "Consumption with Imperfect Income Expectations," Journal of Economics and Behavioral Studies, AMH International, vol. 16(1), pages 12-30.
    49. Bianchi, Francesco & Ludvigson, Sydney & Ma, Sai, 2020. "Belief Distortions and Macroeconomic Fluctuations," CEPR Discussion Papers 15003, Centre for Economic Policy Research.
    50. Lovisa Reiche & Gabriele Galati & Richhild Moessner & Maarten van Rooij, 2026. "Who’s on Fire? Household Characteristics and the Formation of Inflation Expectations," CESifo Working Paper Series 12450, CESifo.
    51. Maćkowiak, Bartosz & Wiederholt, Mirko, 2023. "Rational inattention and the business cycle effects of productivity and news shocks," Working Paper Series 2827, European Central Bank.
    52. Camille Cornand & Paul Hubert, 2022. "Information frictions in inflation expectations among five types of economic agents," Post-Print hal-03468918, HAL.
    53. Meade, Nigel & Driver, Ciaran, 2023. "Differing behaviours of forecasters of UK GDP growth," International Journal of Forecasting, Elsevier, vol. 39(2), pages 772-790.
    54. Nathan Goldstein & Ben‐Zion Zilberfarb, 2023. "The closer we get, the better we are?," Economic Inquiry, Western Economic Association International, vol. 61(2), pages 364-376, April.
    55. Aktuğ, Emrehan & Rezghi, Abolfazl, 2025. "Asymmetric overreaction," European Economic Review, Elsevier, vol. 180(C).
    56. Andrew B. Martinez, 2020. "Extracting Information from Different Expectations," Working Papers 2020-008, The George Washington University, The Center for Economic Research.
    57. Sergey Ivashchenko & Andrey Sinyakov, 2025. "Heterogeneous Inflation Expectations Across Economic Agents: Implications for Monetary Policy," Bank of Russia Working Paper Series wps152, Bank of Russia.
    58. Eleonora Granziera & Pirkka Jalasjoki & Maritta Paloviita, 2021. "The Bias and Efficiency of the ECB Inflation Projections: a State Dependent Analysis," Working Paper 2021/1, Norges Bank.
    59. Anthony Brassil & Yahdullah Haidari & Jonathan Hambur & Gulnara Nolan & Callum Ryan, 2024. "How Do Households Form Inflation and Wage Expectations?," RBA Research Discussion Papers rdp2024-07, Reserve Bank of Australia.
    60. Leland Bybee, 2023. "Surveying Generative AI's Economic Expectations," Papers 2305.02823, arXiv.org, revised May 2023.
    61. Gust, Christopher & Herbst, Edward & López-Salido, David, 2026. "Inflation expectations with finite horizon planning," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
    62. Metodij Hadzi‐Vaskov & Luca Antonio Ricci & Alejandro Mariano Werner & Rene Zamarripa, 2023. "What drives economic growth forecast revisions?," Review of International Economics, Wiley Blackwell, vol. 31(3), pages 1068-1092, August.
    63. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.
    64. Roman Frydman & Morten Nyboe Tabor, 2022. "Muth's Hypothesis Under Knightian Uncertainty: A Novel Account of Inflation Forecasts," Working Papers Series inetwp194, Institute for New Economic Thinking.
    65. Oscar Claveria, 2021. "Disagreement on expectations: firms versus consumers," SN Business & Economics, Springer, vol. 1(12), pages 1-23, December.
    66. Görkem Ataman & Serpil Kahraman, 2022. "Comparing Decision Trees and Association Rules for Stock Market Expectations in BIST100 and BIST30," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 69(3), pages 459-475, September.
    67. Farmer, Leland E & Nakamura, Emi & Steinsson, Jón, 2024. "Learning about the Long Run," Department of Economics, Working Paper Series qt0tn1s1hp, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    68. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2022. "Overreaction and Diagnostic Expectations in Macroeconomics," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 223-244, Summer.
    69. Gust, Christopher & Herbst, Edward & López-Salido, David, 2025. "Optimal monetary policy with uncertain private sector foresight," Journal of Monetary Economics, Elsevier, vol. 155(C).
    70. Eusepi, Stefano & Gibbs, Chris & Preston, Bruce, 2021. "Forward guidance with unanchored expectations," Bank of Finland Research Discussion Papers 11/2021, Bank of Finland.
    71. Afsar, Atahan & Gallegos, José-Elías & Jaimes, Richard & Silgado-Gómez, Edgar, 2024. "A behavioral hybrid New Keynesian model: Quantifying the importance of belief formation frictions," Economic Modelling, Elsevier, vol. 132(C).
    72. Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).
    73. Nathan Goldstein & Ohad Raveh, 2024. "Looking up the sky: unidentified aerial phenomena and macroeconomic attention," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-25, December.
    74. Baumann, Ursel & Darracq Pariès, Matthieu & Westermann, Thomas & Riggi, Marianna & Bobeica, Elena & Meyler, Aidan & Böninghausen, Benjamin & Fritzer, Friedrich & Trezzi, Riccardo & Jonckheere, Jana & , 2021. "Inflation expectations and their role in Eurosystem forecasting," Occasional Paper Series 264, European Central Bank.
    75. Oinonen, Sami & Vilmi, Lauri, 2021. "Analysing euro area inflation outlook with the Phillips curve," BoF Economics Review 5/2021, Bank of Finland.
    76. Thierry U. Kame Babilla, 2024. "Bank‐lending channel of monetary policy transmission in WAEMU: An estimated DSGE model approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1277-1300, April.
    77. Gabriel Pino & Jose Barrales-Ruiz, 2026. "Heterogeneous impact of consumer confidence on US aggregate consumption over the business cycle," Empirical Economics, Springer, vol. 70(1), pages 1-15, January.
    78. Junyi Liao, 2026. "Adaptive expectations and reaction to information," Economica, London School of Economics and Political Science, vol. 93(370), pages 488-523, April.
    79. Cars Hommes & Kostas Mavromatis & Tolga Özden & Mei Zhu, 2023. "Behavioral learning equilibria in New Keynesian models," Quantitative Economics, Econometric Society, vol. 14(4), pages 1401-1445, November.
    80. Hensel, Jannik & Mangiante, Giacomo & Moretti, Luca, 2024. "Carbon pricing and inflation expectations: Evidence from France," Journal of Monetary Economics, Elsevier, vol. 147(C).
    81. Duan, Kun & Zhang, Liya & Chen, Shuyun & Urquhart, Andrew, 2025. "Heterogeneous housing bubbles and monetary policy," International Review of Financial Analysis, Elsevier, vol. 103(C).
    82. Dobrew, Michael & Gerke, Rafael & Kienzler, Daniel & Schwemmer, Alexander, 2023. "Monetary policy rules under bounded rationality," Discussion Papers 18/2023, Deutsche Bundesbank.
    83. Born, Benjamin & Enders, Zeno & Müller, Gernot J., 2023. "On FIRE, news, and expectations," Working Papers 42, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    84. Sarantis Tsiaplias, 2024. "Inflation as a 'bad', heuristics and aggregate shocks: New evidence on expectation formation," Melbourne Institute Working Paper Series wp2024n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    85. Yuliya Rychalovska & Sergey Slobodyan & Raf Wouters, 2024. "Survey Expectations, Adaptive Learning and Inflation Dynamics," CERGE-EI Working Papers wp781, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    86. Clements, Michael P., 2025. "Inconsistent survey histograms and point forecasts revisited," Journal of Economic Behavior & Organization, Elsevier, vol. 236(C).
    87. Hajdini, Ina & Knotek, Edward S & Leer, John & Pedemonte, Mathieu & Rich, Robert & Schoenle, Raphael, 2025. "Low Pass-Through from Inflation Expectations to Income Growth Expectations: Why People Dislike Inflation," IDB Publications (Working Papers) 13937, Inter-American Development Bank.
    88. Paul Levine & Joseph Pearlman & Alessio Volpicella & Bo Yang, 2022. "The Use and Mis-Use of SVARs for Validating DSGE Models," School of Economics Discussion Papers 0522, School of Economics, University of Surrey.
    89. Conrad, Christian & Lahiri, Kajal, 2023. "Heterogeneous expectations among professional forecasters," ZEW Discussion Papers 23-062, ZEW - Leibniz Centre for European Economic Research.
    90. Rychalovska, Yuliya & Slobodyan, Sergey & Wouters, Raf, 2025. "Survey expectations, learning and inflation dynamics," European Economic Review, Elsevier, vol. 180(C).
    91. Weiyang ZHAI & Yushi YOSHIDA, 2026. "Inflation Expectations in Japan: Forecast revision and forecast trends," Discussion papers 26004, Research Institute of Economy, Trade and Industry (RIETI).
    92. Ristolainen, Kim, 2026. "Quantifying Minsky cycles," Bank of Finland Research Discussion Papers 3/2026, Bank of Finland.
    93. Chunbing Cai & Jordan Roulleau-Pasdeloup & Zhongxi Zheng, 2025. "Endogenous Persistence at the Effective Lower Bound," Papers 2501.06473, arXiv.org, revised Sep 2025.
    94. Roberto Gómez‐Cram, 2022. "Late to Recessions: Stocks and the Business Cycle," Journal of Finance, American Finance Association, vol. 77(2), pages 923-966, April.
    95. Nadia Pozdnyakova, 2026. "Exchange Rate Expectations and Aggregate Dynamics," Working Papers w0294, New Economic School (NES).
    96. Bonciani, Dario & Oh, Joonseok, 2026. "Unemployment risk, liquidity traps, and monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
    97. Oliver Pfäuti, 2025. "Inflation—Who Cares? Monetary Policy in Times of Low Attention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(5), pages 1211-1239, August.
    98. Granziera, Eleonora & Jalasjoki, Pirkka & Paloviita, Maritta, 2021. "The bias and efficiency of the ECB inflation projections: A state dependent analysis," Bank of Finland Research Discussion Papers 7/2021, Bank of Finland.
    99. Leland E. Farmer & Lawrence Schmidt & Allan Timmermann, 2023. "Pockets of Predictability," Journal of Finance, American Finance Association, vol. 78(3), pages 1279-1341, June.
    100. Na, Seunghoon & Xie, Yinxi, 2025. "Expectations and the UIP puzzles when foresight is limited," Journal of International Economics, Elsevier, vol. 158(C).
    101. Gerotto, Luca & Paradiso, Antonio & Pellizzari, Paolo, 2025. "A tale of inattentiveness and the loss function: A model for household-level macroeconomic expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 236(C).
    102. Qiu, Yajie & Deschamps, Bruno, 2025. "Peer influence in macroeconomic predictions," Journal of Economic Behavior & Organization, Elsevier, vol. 236(C).
    103. Marco Bottone & Alex Tagliabracci & Giordano Zevi, 2021. "Inflation expectations and the ECB’s perceived inflation objective: novel evidence from firm-level data," Questioni di Economia e Finanza (Occasional Papers) 621, Bank of Italy, Economic Research and International Relations Area.
    104. Ji, Yangyang, 2022. "Can Discounting Alone Resolve the Forward Guidance Puzzle?," MPRA Paper 115353, University Library of Munich, Germany.
    105. Candia, Bernardo & Coibion, Olivier & Gorodnichenko, Yuriy, 2024. "The inflation expectations of U.S. firms: Evidence from a new survey," Journal of Monetary Economics, Elsevier, vol. 145(S).
    106. J. Daniel Aromí & Martín Llada, 2024. "Are professional forecasters inattentive to public discussions about inflation? The case of Argentina," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(7), pages 2572-2587, November.
    107. Kieren, Pascal & König-Kersting, Christian & Schmidt, Robert J. & Trautmann, Stefan T. & Theurich, Franziska, 2024. "First-order and higher-order inflation expectations: Evidence about households and firms," Discussion Papers 18/2024, Deutsche Bundesbank.
    108. Pedro Bordalo & Nicola Gennaioli & Rafael La Porta & Matthew OBrien & Andrei Shleifer, 2023. "Long-Term Expectations and Aggregate Fluctuations," NBER Chapters, in: NBER Macroeconomics Annual 2023, volume 38, pages 311-347, National Bureau of Economic Research, Inc.
    109. Andrew B. Martinez, 2025. "How do Macroeconomic Expectations React to Extreme Weather Shocks?," Working Papers 2025-001, The George Washington University, The Center for Economic Research.
    110. Tsuchiya, Yoichi, 2023. "Assessing the World Bank’s growth forecasts," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 64-84.
    111. Anja Sebbesen & Birgit Meyer, 2025. "I Think What You Think: Trade Fairs and the Exchange of Firms' Beliefs," WIFO Working Papers 704, WIFO.
    112. Boeck, Maximilian & Feldkircher, Martin, 2021. "The Impact of Monetary Policy on Yield Curve Expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 887-901.
    113. Goldstein, Nathan & Zilberfarb, Ben-Zion, 2021. "Do forecasters really care about consensus?," Economic Modelling, Elsevier, vol. 100(C).
    114. Kenneth Eva & Fabian Winkler, 2023. "A Comprehensive Empirical Evaluation of Biases in Expectation Formation," Finance and Economics Discussion Series 2023-042, Board of Governors of the Federal Reserve System (U.S.).
    115. Bassanin, Marzio & Faia, Ester & Patella, Valeria, 2021. "Ambiguity attitudes and the leverage cycle," Journal of International Economics, Elsevier, vol. 129(C).
    116. Ricardo Reis, 2020. "Comment on "Imperfect Expectations: Theory and Evidence"," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 99-111, National Bureau of Economic Research, Inc.
    117. Han, Leyla Jianyu, 2025. "Announcements, expectations, and stock returns with asymmetric information," Journal of Monetary Economics, Elsevier, vol. 151(C).
    118. Bernardo Candia & Olivier Coibion & Yuriy Gorodnichenko, 2020. "Communication and the Beliefs of Economic Agents," NBER Working Papers 27800, National Bureau of Economic Research, Inc.
    119. Tiziano Ropele & Yuriy Gorodnichenko & Olivier Coibion, 2023. "Inflation expectations and misallocation of resources: evidence from Italy," Temi di discussione (Economic working papers) 1437, Bank of Italy, Economic Research and International Relations Area.
    120. Han, Zhao, 2024. "Asymmetric information and misaligned inflation expectations," Journal of Monetary Economics, Elsevier, vol. 143(C).
    121. Mitman, Kurt & Broer, Tobias & Kohlhas, Alexandre & Schlafmann, Kathrin, 2021. "Information and Wealth Heterogeneity in the Macroeconomy," CEPR Discussion Papers 15934, Centre for Economic Policy Research.
    122. Pascal Kieren & Christian König-Kersting & Robert Schmidt & Stefan Trautmann & Franziska Heinicke, 2023. "First-Order and Higher-Order Inflation Expectations: Evidence about Households and Firms," Working Papers 2023-10, Faculty of Economics and Statistics, Universität Innsbruck.
    123. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    124. Platonov, Konstantin, 2024. "Confidence spillovers, financial contagion, and stagnation," Journal of International Money and Finance, Elsevier, vol. 148(C).
    125. Ricardo J. Caballero & Alp Simsek, 2020. "Monetary Policy with Opinionated Markets," NBER Working Papers 27313, National Bureau of Economic Research, Inc.

  6. George-Marios Angeletos & Chen Lian, 2020. "Confidence and the Propagation of Demand Shocks," NBER Working Papers 27702, National Bureau of Economic Research, Inc.

    Cited by:

    1. Xu, Xiangyun & Li, Xing & Meng, Jie & Hu, Xueqi & Ge, Yingfan, 2024. "The impact of the tail risk of demand on corporate investment: Evidence from Chinese manufacturing firms," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    2. Liudmila Kitrar & Tamara Lipkind, 2021. "Development Of Composite Indicators Of Cyclical Response In Business Surveys Considering The Specifics Of The ‘Covid-19 Economy’," HSE Working papers WP BRP 121/STI/2021, National Research University Higher School of Economics.
    3. Hashmat Khan & Jean‐François Rouillard & Santosh Upadhayaya, 2026. "Consumer confidence and household investment," Economic Inquiry, Western Economic Association International, vol. 64(2), pages 641-662, April.
    4. Gabriel Pino & Jose Barrales-Ruiz, 2026. "Heterogeneous impact of consumer confidence on US aggregate consumption over the business cycle," Empirical Economics, Springer, vol. 70(1), pages 1-15, January.
    5. Piga, Claudio A. & Gaggero, Alberto A. & Alderighi, Marco, 2025. "Demand-shock characteristics and pricing behavior: A natural experiment from UEFA Euro 2016," Economics of Transportation, Elsevier, vol. 41(C).
    6. Yuemei Ji, 2023. "Shock Therapy in Transition Countries: A Behavioral Macroeconomic Approach," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(3), pages 483-510, September.
    7. Adams, Jonathan J., 2023. "Moderating noise-driven macroeconomic fluctuations under dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    8. Kim, Hyeongwoo & Shao, Peng & Zhang, Shuwei, 2023. "Policy coordination and the effectiveness of fiscal stimulus," Journal of Macroeconomics, Elsevier, vol. 75(C).

  7. Iovino, Luigi & Angeletos, George-Marios & La'O, Jennifer, 2020. "Learning over the Business Cycle: Policy Implications," CEPR Discussion Papers 14577, Centre for Economic Policy Research.

    Cited by:

    1. Jonathan J Adams, 2024. "Optimal Policy Without Rational Expectations: A Sufficient Statistic Solution," Working Papers 001011, University of Florida, Department of Economics.
    2. Phurichai Rungcharoenkitkul & Fabian Winkler, 2022. "The Natural Rate of Interest Through a Hall of Mirrors," Finance and Economics Discussion Series 2022-010, Board of Governors of the Federal Reserve System (U.S.).
    3. Qu, Lijuan, 2026. "Incomplete information, strategic uncertainty and optimal monetary policy," Economics Letters, Elsevier, vol. 259(C).
    4. Ding, Qiushuo & Luo, Yulei & Wang, Gaowang, 2026. "Optimal Monetary Policy with Confounding Information," MPRA Paper 128146, University Library of Munich, Germany.
    5. Chan, Jenny, 2024. "Monetary policy and sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 222(C).
    6. Jonathan J Adams, 2020. "Moderating Macroeconomic Bubbles Under Dispersed Information," Working Papers 001005, University of Florida, Department of Economics.
    7. Jenny Chan, 2024. "Monetary policy and sentiment-driven fluctuations," Bank of England Staff Working Paper series 1106, Bank of England.
    8. Thomas Lubik & Christian Matthes & Elmar Mertens, 2023. "Indeterminacy and Imperfect Information," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 37-57, July.
    9. Adams, Jonathan J., 2023. "Moderating noise-driven macroeconomic fluctuations under dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    10. Huang, Wenli & Liu, Wenqiong & Lu, Lei & Mu, Congming, 2023. "Hedge funds trading strategies and leverage," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
    11. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.

  8. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2020. "Business-Cycle Anatomy," Post-Print hal-03039252, HAL.

    Cited by:

    1. Di Casola, Paola & Sichlimiris, Spyridon, 2018. "Towards Technology-News-Driven Business Cycles," Working Paper Series 360, Sveriges Riksbank (Central Bank of Sweden).
    2. Moura, Alban, 2022. "Why you should never use the Hodrick-Prescott filter: comment," MPRA Paper 114922, University Library of Munich, Germany.
    3. Moench, Emanuel & Soofi Siavash, Soroosh, 2022. "What Moves Treasury Yields?," CEPR Discussion Papers 15978, Centre for Economic Policy Research.
    4. Guido Ascari & Luca Fosso, 2021. "The Inflation Rate Disconnect Puzzle: On the International Component of Trend Inflation and the Flattening of the Phillips Curve," Working Papers 733, DNB.
    5. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    6. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "Technology and demand drivers of productivity dynamics in developed and emerging market economies," Working Paper Series 2533, European Central Bank.
    7. Ye Lu & Adrian Pagan, 2023. "To Boost or Not to Boost? That is the Question," Working Papers 2023-05, University of Sydney, School of Economics.
    8. Mumtaz, Haroon & Theophilopoulou, Angeliki, 2024. "The distributional effects of climate change. An empirical analysis," European Economic Review, Elsevier, vol. 169(C).
    9. Angela Capolongo & Claudia Pacella, 2021. "Forecasting inflation in the euro area: countries matter!," Empirical Economics, Springer, vol. 61(5), pages 2477-2499, November.
    10. Daragh Clancy & Lorenzo Ricci, 2019. "Loss aversion, economic sentiments and international consumption smoothing," Working Papers 35, European Stability Mechanism.
    11. Francesco Furlanetto & Antoine Lepetit & Ørjan Robstad & Juan Rubio-Ramírez & Pal Ulvedal, 2021. "Estimating Hysteresis Effects," Working Papers 2021-11, FEDEA.
    12. Ilut, Cosmin & Saijo, Hikaru, 2021. "Learning, confidence, and business cycles," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 354-376.
    13. Antolín-Díaz, Juan & Drechsel, Thomas & Petrella, Ivan, 2024. "Advances in nowcasting economic activity: The role of heterogeneous dynamics and fat tails," Journal of Econometrics, Elsevier, vol. 238(2).
    14. Verbrugge, Randal & Zaman, Saeed, 2023. "The hard road to a soft landing: Evidence from a (modestly) nonlinear structural model," Energy Economics, Elsevier, vol. 123(C).
    15. Gianluca Cubadda, 2024. "VAR models with an index structure: A survey with new results," Papers 2412.11278, arXiv.org, revised Sep 2025.
    16. Boss, Konstantin & Testa, Alessandra, 2025. "What goes around comes around: The US climate-economic cycle," Journal of Macroeconomics, Elsevier, vol. 85(C).
    17. Martin Iseringhausen & Konstantinos Theodoridis, 2025. "A survey-based measure of asymmetric macroeconomic risk in the euro area," Working Papers 68, European Stability Mechanism, revised 11 Feb 2025.
    18. Ascari, Guido & Fosso, Luca, 2024. "The international dimension of trend inflation," Journal of International Economics, Elsevier, vol. 148(C).
    19. Ángelo Gutiérrez-Daza, 2024. "Business Cycles when Consumers Learn by Shopping," Working Papers 2024-12, Banco de México.
    20. Böhl, Gregor & Strobel, Felix, 2020. "US business cycle dynamics at the zero lower bound," Discussion Papers 65/2020, Deutsche Bundesbank.
    21. Patel, Nikhil & Peralta-Alva, Adrian, 2025. "High public debts: Are shocks or discretionary fiscal policy to blame?," Journal of International Economics, Elsevier, vol. 158(C).
    22. Daniel Parra-Amado & Camilo Granados, 2025. "Output Gap Measurement after COVID for Colombia: Lessons from a Permanent-Transitory Approach," Borradores de Economia 1295, Banco de la Republica de Colombia.
    23. Richard Ashley & Randal Verbrugge, 2025. "The intermittent Phillips curve: Finding a stable (but persistence‐dependent) Phillips curve model specification," Economic Inquiry, Western Economic Association International, vol. 63(3), pages 926-944, July.
    24. Thomas Drechsel, 2018. "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations," 2018 Papers pdr141, Job Market Papers.
    25. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "The identification of dominant macroeconomic drivers: coping with confounding shocks," Working Paper Series 2534, European Central Bank.
    26. Christian Matthes & Felipe Schwartzman, 2019. "What Do Sectoral Dynamics Tell Us About the Origins of Business Cycles?," Working Paper 19-9, Federal Reserve Bank of Richmond.
    27. Molnárová, Zuzana & Reiter, Michael, 2022. "Technology, demand, and productivity: What an industry model tells us about business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 134(C).
    28. Christian Matthes & Felipe Schwartzman, 2019. "The Demand Origins of Business Cycles," 2019 Meeting Papers 1122, Society for Economic Dynamics.
    29. Karl Naumann-Woleske & Michael Benzaquen & Maxim Gusev & Dimitri Kroujiline, 2021. "Capital Demand Driven Business Cycles: Mechanism and Effects," Papers 2110.00360, arXiv.org, revised Sep 2022.
    30. Fabio Canova & Filippo Ferroni, 2021. "A Hitchhiker’s Guide to Empirical Macro Models," Working Paper Series WP-2021-15, Federal Reserve Bank of Chicago, revised 03 Oct 2021.
    31. Camilo Granados & Daniel Parra-Amado, 2023. "Estimating the Output Gap After COVID: How to Address Unprecedented Macroeconomic Variations," Borradores de Economia 1249, Banco de la Republica de Colombia.
    32. Cimadomo, Jacopo & Giannone, Domenico & Lenza, Michele & Monti, Francesca & Sokol, Andrej, 2020. "Nowcasting with large Bayesian vector autoregressions," Working Paper Series 2453, European Central Bank.
    33. Boer, Lukas & Lee, Jaewoo & Sun, Mingzuo, 2026. "Dominant drivers of current account dynamics," Journal of International Economics, Elsevier, vol. 159(C).
    34. Christoph Görtz & Christopher Gunn & Thomas A. Lubik, 2024. "The Changing Nature of Technology Shocks," CESifo Working Paper Series 11385, CESifo.
    35. Granese, Antonio, 2026. "Two main business cycle shocks are better than one," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
    36. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "Technological and non-technological drivers of productivity dynamics in developed and emerging market economies," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).
    37. Naoya Nagasaka, 2026. "Identifying Macro Shocks from Micro Evidence: A Mixed Autoregressive Approach," Discussion Paper Series DP2026-18, Research Institute for Economics & Business Administration, Kobe University.
    38. Pintér, Gábor, 2022. "The procyclicality of inflation-linked debt," Economics Letters, Elsevier, vol. 218(C).
    39. Bratsiotis, George J. & Theodoridis, Konstantinos, 2022. "Precautionary liquidity shocks, excess reserves and business cycles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    40. Salha Ben Salem & Moez Labidi, 2024. "Financial friction and optimal monetary policy: analysis of DSGE model with financial friction and price sticky," SN Business & Economics, Springer, vol. 4(7), pages 1-24, July.
    41. Ryan Chahrour & Vito Cormun & Pierre De Leo & Pablo Guerron-Quintana & Rosen Valchev, 2021. "Exchange Rate Disconnect Revisited," Boston College Working Papers in Economics 1041, Boston College Department of Economics, revised 12 May 2023.
    42. Manuel M. F. Martins & Fabio Verona, 2024. "Forecasting Inflation with the New Keynesian Phillips Curve: Frequencies Matter," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 86(4), pages 811-832, August.
    43. Cascaldi-Garcia, Danilo, 2025. "Forecast revisions as instruments for news shocks," Journal of Monetary Economics, Elsevier, vol. 151(C).
    44. Cosmin L. Ilut & Martin Schneider, 2022. "Modeling Uncertainty as Ambiguity: a Review," NBER Working Papers 29915, National Bureau of Economic Research, Inc.
    45. Domenico Giannone & Michele Lenza & Lucrezia Reichlin, 2019. "Money, credit, monetary policy, and the business cycle in the euro area: what has changed since the crisis?," Staff Reports 885, Federal Reserve Bank of New York.
    46. Junyi Liao, 2026. "Adaptive expectations and reaction to information," Economica, London School of Economics and Political Science, vol. 93(370), pages 488-523, April.
    47. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    48. Chunbing Cai & Jordan Roulleau-Pasdeloup & Zhongxi Zheng, 2025. "Endogenous Persistence at the Effective Lower Bound," Papers 2501.06473, arXiv.org, revised Sep 2025.
    49. Nadav Ben Zeev, 2019. "Is There A Single Shock That Drives The Majority Of Business Cycle Fluctuations?," Working Papers 1906, Ben-Gurion University of the Negev, Department of Economics.
    50. Jonathan Adams & Philip Barrett, 2024. "Shocks to Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 54, October.
    51. Martin Iseringhausen & Ivan Petrella & Konstantinos Theodoridis, 2022. "Aggregate skewness and the business cycle," Working Papers 53, European Stability Mechanism.
    52. Randal Verbrugge & Saeed Zaman, 2024. "Post‐COVID inflation dynamics: Higher for longer," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(4), pages 871-893, July.
    53. Clancy, Daragh & Ricci, Lorenzo, 2022. "Economic sentiments and international risk sharing," International Economics, Elsevier, vol. 169(C), pages 208-229.
    54. Kame Babilla, Thierry U., 2023. "Digital innovation and financial access for small and medium-sized enterprises in a currency union," Economic Modelling, Elsevier, vol. 120(C).
    55. Becard, Yvan & Gauthier, David, 2023. "Banks, nonbanks, and business cycles," European Economic Review, Elsevier, vol. 154(C).
    56. Wu, Jieran, 2022. "Comments on “Sentiments and real business cycles”," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    57. Adams, Jonathan J., 2023. "Moderating noise-driven macroeconomic fluctuations under dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    58. Kim, Hyeongwoo & Shao, Peng & Zhang, Shuwei, 2023. "Policy coordination and the effectiveness of fiscal stimulus," Journal of Macroeconomics, Elsevier, vol. 75(C).
    59. Vegard H. Larsen & Leif Anders Thorsrud, 2026. "Using Transformers and Reinforcement Learning as Narrative Filters in Macroeconomics," CESifo Working Paper Series 12454, CESifo.
    60. Shi, Shuping & Yu, Jun & Zhang, Chen, 2024. "On the spectral density of fractional Ornstein–Uhlenbeck processes," Journal of Econometrics, Elsevier, vol. 245(1).
    61. Xu, Zhiwei & Zhou, Fei & Zhou, Jing, 2022. "Sentiments and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    62. Paras Sachdeva & Wasim Ahmad & N. R. Bhanumurthy, 2024. "Public expenditure multiplier across business cycle phases in an emerging economy: new empirical evidence and dimension," Empirical Economics, Springer, vol. 66(1), pages 279-299, January.
    63. Christoph Gortz & Christopher Gunn & Thomas Lubik, 2022. "Split Personalities: The Changing Nature of Technology Shocks," Carleton Economic Papers 22-06, Carleton University, Department of Economics.
    64. Han, Zhao, 2024. "Asymmetric information and misaligned inflation expectations," Journal of Monetary Economics, Elsevier, vol. 143(C).
    65. Guay, Alain & Pelgrin, Florian, 2023. "Structural VAR models in the Frequency Domain," Journal of Econometrics, Elsevier, vol. 236(1).
    66. Gianluca Cubadda & Marco Mazzali, 2023. "The Vector Error Correction Index Model: Representation, Estimation and Identification," CEIS Research Paper 556, Tor Vergata University, CEIS, revised 04 Apr 2023.
    67. Richard Kima & Keagile Lesame, 2025. "Macroeconomic effects of lowering South Africa's inflation target: An SVAR analysis," WIDER Working Paper Series wp-2025-106, World Institute for Development Economic Research (UNU-WIDER).
    68. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    69. Gianluca Cubadda & Alain Hecq, 2022. "Dimension Reduction for High‐Dimensional Vector Autoregressive Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 1123-1152, October.
    70. Ettore Gallo, 2021. "How Short is the Short Run in the Neo-Kaleckian Growth Model?," Working Papers 2117, New School for Social Research, Department of Economics.

  9. Collard, Fabrice & Dellas, Harris & Angeletos, George-Marios, 2020. "Public Debt as Private Liquidity: Optimal Policy," CEPR Discussion Papers 15488, Centre for Economic Policy Research.

    Cited by:

    1. YiLi Chien & Yi Wen & HsinJung Wu, 2020. "Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk," Working Papers 2020-007, Federal Reserve Bank of St. Louis, revised 02 Apr 2025.
    2. Gersbach, Hans & Rochet, Jean-Charles & von Thadden, Ernst-Ludwig, 2023. "Public Debt and the Balance Sheet of the Private Sector," TSE Working Papers 23-1412, Toulouse School of Economics (TSE).
    3. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2026. "Repayment of EU Bailout Loans in a Member-country of the ES: The Case of Greece," Open Economies Review, Springer, vol. 37(1), pages 233-289, March.
    4. Olivier J. Blanchard, 2019. "Public Debt and Low Interest Rates," NBER Working Papers 25621, National Bureau of Economic Research, Inc.
    5. Gomez-Gonzalez, Patricia, 2019. "Public debt structure and liquidity provision," Journal of International Economics, Elsevier, vol. 117(C), pages 51-60.
    6. YiLi Chien & Yi Wen & HsinJung Yu, 2026. "Are Government Bonds Net Wealth or a Liability —Optimal Debt and Taxes under Uninsurable Income Risk," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 81(3), pages 975-1008, May.
    7. Morteza Ghomi & Jochen Mankart & Rigas Oikonomou & Romanos Priftis, 2025. "Debt Maturity and Government Spending Multipliers," Working and Discussion Papers WP 14/2025, Research Department, National Bank of Slovakia.
    8. Aleksander Berentsen & Christopher J. Waller, 2017. "Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level," Working Papers 2017-8, Federal Reserve Bank of St. Louis.
    9. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2024. "Repayment of EU Bailout Loans in a Member-Country of the ES: The Case of Greece," CESifo Working Paper Series 11519, CESifo.
    10. Mankart, Jochen & Priftis, Romanos & Oikonomou, Rigas, 2024. "The long and short of financing government spending," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302414, Verein für Socialpolitik / German Economic Association.
    11. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).
    12. Acharya, Sushant & Dogra, Keshav, 2020. "The Side Effects of Safe Asset Creation," CEPR Discussion Papers 14440, Centre for Economic Policy Research.
    13. Jing Cynthia Wu & Yinxi Xie, 2025. "Unconventional Monetary and Fiscal Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 56, April.
    14. David Andolfatto & Fernando Martin, 2023. "Welfare-enhancing inflation and liquidity premia," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 1036-1047, December.
    15. Mathieu Grobéty, 2017. "Government Debt and Growth: The Role of Liquidity," Working Papers 2017-13, Swiss National Bank.
    16. Sergeyev, Dmitriy & Mehrotra, Neil, 2020. "Debt Sustainability in a Low Interest Rate World," CEPR Discussion Papers 15282, Centre for Economic Policy Research.
    17. Born, Benjamin & Bayer, Christian & Luetticke, Ralph, 2020. "The Liquidity Channel of Fiscal Policy," CEPR Discussion Papers 14883, Centre for Economic Policy Research.
    18. Antonio Antunes & Valerio Ercolani, 2020. "Public debt expansions and the dynamics of the household borrowing constraint," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 1-32, July.
    19. Ashwin, Julian & Beaudry, Paul & Ellison, Martin, 2025. "Neural network learning for nonlinear economies," Journal of Monetary Economics, Elsevier, vol. 149(C).
    20. Hans Gersbach & Jean-Charles Rochet & Ernst-Ludwig von Thadden, 2024. "Fiscal Policy and the Balance Sheet of the Private Sector," CRC TR 224 Discussion Paper Series crctr224_2024_544, University of Bonn and University of Mannheim, Germany.
    21. Etienne Farvaque & Hira Iqbal & Nicolas Ooghe, 2020. "Health politics? Determinants of US states’ reactions to COVID-19," Post-Print hal-03128875, HAL.
    22. Farias, Maria Elisa, 2025. "Private and public debt: How much risk?," Finance Research Letters, Elsevier, vol. 86(PB).
    23. Jean Barthélemy & Eric Mengus & Guillaume Plantin, 2021. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," Working papers 855, Banque de France.
    24. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    25. Kreamer, Jonathan, 2022. "Financial intermediation and the supply of liquidity," Journal of Financial Stability, Elsevier, vol. 61(C).
    26. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    27. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Nonfinancial debt and economic growth in euro-area countries," IREA Working Papers 201714, University of Barcelona, Research Institute of Applied Economics, revised Jul 2017.
    28. Spyros Lazarakis & Max Schroeder, 2026. "Public Debt Consolidation under Risky Human Capital," Working Papers 442390386, Lancaster University Management School, Economics Department.
    29. Marina Azzimonti & Pierre Yared, 2018. "The Optimal Public and Private Provision of Safe Assets," NBER Working Papers 24534, National Bureau of Economic Research, Inc.
    30. Chien, YiLi & Wen, Yi, 2024. "The Ramsey steady-state conundrum in heterogeneous-agent economies," Journal of Economic Theory, Elsevier, vol. 220(C).
    31. Gorton, Gary & Ordoñez, Guillermo, 2022. "The supply and demand for safe assets," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 132-147.
    32. Naiyue CUI & Minchung HSU & Yunfang HU, 2025. "Fiscal Reform, Government Debt and Female Labor Supply in Japan," Discussion papers 25095, Research Institute of Economy, Trade and Industry (RIETI).
    33. Andolfatto, David & Martin, Fernando M., 2018. "Monetary policy and liquid government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 183-199.
    34. Nissinen, Juuso & Sihvonen, Markus, 2024. "Bond convenience curves and funding costs," Journal of International Economics, Elsevier, vol. 151(C).
    35. Wang, Tianxi, 2021. "Government Bonds, Bank Liquidity and Non-Neutrality of Monetary Policy in the Steady," Economics Discussion Papers 29502, University of Essex, Department of Economics.
    36. Kaldorf, Matthias & Röttger, Joost, 2025. "Convenient but risky government bonds," European Economic Review, Elsevier, vol. 180(C).
    37. Guillermo Santos, 2022. "Optimal fiscal and monetary policy with preference over safe assets," LIDAM Discussion Papers IRES 2022021, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    38. Pierre Yared & Marina Azzimonti, 2017. "The Public and Private Provision of Safe Assets," 2017 Meeting Papers 755, Society for Economic Dynamics.
    39. Pierpaolo Benigno, 2025. "The International Supply of Reserve Currency," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 393-432, June.
    40. Benigno, Pierpaolo & Robatto, Roberto, 2018. "Private Money Creation, Liquidity Crises, and Government Intervention," CEPR Discussion Papers 13091, Centre for Economic Policy Research.
    41. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    42. Marios Psychalis & Panagiotis Gournas & Nagia Grigorakou & Petros Dimitrakopoulos & George Stivachtis, 2020. "Fiscal Policy, Growth and Competitiveness in EMU: Evidence from Portugal and Greece," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 10(4), pages 18-24.
    43. Nicolas Caramp, 2021. "Sowing the Seeds of Financial Crises: Endogenous Asset Creation and Adverse Selection," Working Papers 342, University of California, Davis, Department of Economics.

  10. George-Marios Angeletos & Karthik Sastry, 2019. "Inattentive Economies," NBER Working Papers 26413, National Bureau of Economic Research, Inc.

    Cited by:

    1. Pavan, Alessandro, 2025. "Attention, coordination, and bounded recall," Journal of Economic Theory, Elsevier, vol. 227(C).
    2. Dominik Naeher, 2023. "The Social Planning Problem with Costly Information Processing: Towards Understanding Production Decisions in Centralized Economies," Economica, London School of Economics and Political Science, vol. 90(357), pages 285-314, January.
    3. Mackowiak, Bartosz & Matějka, Filip & Wiederholt, Mirko, 2020. "Rational Inattention: A Review," CEPR Discussion Papers 15408, Centre for Economic Policy Research.
    4. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).

  11. George-Marios Angeletos & Zhen Huo, 2018. "Collective Myopia and Habit," 2018 Meeting Papers 236, Society for Economic Dynamics.

    Cited by:

    1. Matysková, Ludmila & Rogers, Brian & Steiner, Jakub & Sun, Keh-Kuan, 2020. "Habits as adaptations: An experimental study," Games and Economic Behavior, Elsevier, vol. 122(C), pages 391-406.

  12. George-Marios Angeletos & Karthik A. Sastry, 2018. "Managing Expectations: Instruments vs. Targets," NBER Working Papers 25404, National Bureau of Economic Research, Inc.

    Cited by:

    1. D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2020. "Effective policy communication: Targets versus instruments," Bank of Finland Research Discussion Papers 17/2020, Bank of Finland.
    2. Marco Bassetto, 2019. "Forward guidance: communication, commitment, or both?," IFS Working Papers W19/20, Institute for Fiscal Studies.
    3. Bernardo Candia & Olivier Coibion & Yuriy Gorodnichenko, 2020. "Communication and the Beliefs of Economic Agents," NBER Working Papers 27800, National Bureau of Economic Research, Inc.

  13. George-Marios Angeletos & Chen Lian, 2018. "On the Propagation of Demand Shocks," 2018 Meeting Papers 372, Society for Economic Dynamics.

    Cited by:

    1. George‐Marios Angeletos & Fabrice Collard & Harris Dellas, 2018. "Quantifying Confidence," Econometrica, Econometric Society, vol. 86(5), pages 1689-1726, September.

  14. George-Marios Angeletos & Zhen Huo, 2018. "Myopia and Anchoring," NBER Working Papers 24545, National Bureau of Economic Research, Inc.

    Cited by:

    1. Adrien Auclert & Matthew Rognlie & Ludwig Straub, 2020. "Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model," NBER Working Papers 26647, National Bureau of Economic Research, Inc.
    2. George-Marios Angeletos & Chen Lian, 2020. "Confidence and the Propagation of Demand Shocks," NBER Working Papers 27702, National Bureau of Economic Research, Inc.
    3. Bianchi-Vimercati, Riccardo & Eichenbaum, Martin & Guerreiro, Joao, 2024. "Fiscal stimulus with imperfect expectations: Spending vs. tax policy," Journal of Economic Theory, Elsevier, vol. 217(C).
    4. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2026. "Repayment of EU Bailout Loans in a Member-country of the ES: The Case of Greece," Open Economies Review, Springer, vol. 37(1), pages 233-289, March.
    5. Han, Zhao & Tan, Fei & Wu, Jieran, 2022. "Analytic policy function iteration," Journal of Economic Theory, Elsevier, vol. 200(C).
    6. Masashige Hamano & Munechika Katayama & So Kubota, 2020. "COVID-19 Misperception and Macroeconomy," Working Papers 2016, Waseda University, Faculty of Political Science and Economics.
    7. Jin, Yige & Dong, Nanyan & Tian, Gaoliang & Zhang, Junrui, 2023. "Wisdom of the masses: Employee education and corporate risk taking," Economic Modelling, Elsevier, vol. 118(C).
    8. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2024. "Repayment of EU Bailout Loans in a Member-Country of the ES: The Case of Greece," CESifo Working Paper Series 11519, CESifo.
    9. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.
    10. Atahan Afsar; José Elías Gallegos; Richard Jaimes; Edgar Silgado Gómez & Jos� El�as Gallegos & Richard Jaimes & Edgar Silgado G�mez, 2020. "Reconciling Empirics and Theory: The Behavioral Hybrid New Keynesian Model," Vniversitas Económica, Universidad Javeriana - Bogotá, vol. 0(0), pages 1-41.
    11. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann, 2023. "Firm Expectations and News: Micro v Macro," ifo Working Paper Series 400, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    12. José-Elías Gallegos, 2023. "Inflation persistence, noisy information and the Phillips curve," Working Papers 2309, Banco de España.
    13. Kieren, Pascal & König-Kersting, Christian & Schmidt, Robert & Trautmann, Stefan & Heinicke, Franziska, 2025. "First-order and higher-order inflation expectations: Evidence about Households and Firms," Journal of Economic Behavior & Organization, Elsevier, vol. 233(C).
    14. Acharya, Sushant & Benhabib, Jess & Huo, Zhen, 2021. "The anatomy of sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 195(C).
    15. Na, Seunghoon & Yoo, Donghoon, 2025. "Overreaction and macroeconomic fluctuation of the external balance," Journal of Monetary Economics, Elsevier, vol. 151(C).
    16. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    17. Filippo Natoli & Sharath Sonti, 2026. "Overconfident forecasters and the impact of inflation information: evidence from a randomized survey experiment," Temi di discussione (Economic working papers) 1532, Bank of Italy, Economic Research and International Relations Area.
    18. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    19. Kohlhas, Alexandre N. & Robertson, Donald, 2025. "Cautious expectations," Journal of Monetary Economics, Elsevier, vol. 155(S).
    20. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    21. Adams, Jonathan J. & Rojas, Eugenio, 2024. "Household Consumption and Dispersed Information," Journal of Monetary Economics, Elsevier, vol. 147(C).
    22. Pellet, Thomas & Tahbaz-Salehi, Alireza, 2023. "Rigid production networks," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 86-102.
    23. Stephen J. Cole & Enrique Martínez García & Eric Sims, 2023. "Living Up to Expectations: The Effectiveness of Forward Guidance and Inflation Dynamics Post-Global Financial Crisis," Globalization Institute Working Papers 424, Federal Reserve Bank of Dallas, revised 03 Apr 2025.
    24. Yılmaz, Yusuf Ömür & Çiçekçi, Cumhur, 2024. "Misspecified expectations in an open economy," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 65-85.
    25. Hassan Afrouzi & Choongryul Yang, 2021. "Dynamic Rational Inattention and the Phillips Curve," CESifo Working Paper Series 8840, CESifo.
    26. Pooya Molavi, 2019. "Macroeconomics with Learning and Misspecification: A General Theory and Applications," 2019 Meeting Papers 1584, Society for Economic Dynamics.
    27. Christopher Gibbs & Nigel McClung, 2023. "Does my model predict a forward guidance puzzle?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 393-423, December.
    28. Born, Benjamin & Enders, Zeno & Müller, Gernot J., 2023. "On FIRE, news, and expectations," Working Papers 42, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    29. Paul Levine & Joseph Pearlman & Alessio Volpicella & Bo Yang, 2022. "The Use and Mis-Use of SVARs for Validating DSGE Models," School of Economics Discussion Papers 0522, School of Economics, University of Surrey.
    30. José-Elías Gallegos, 2024. "HANK beyond FIRE: Amplification, forward guidance, and belief shocks," Working Papers 2418, Banco de España.
    31. George-Marios Angeletos & Chen Lian, 2021. "Determinacy without the Taylor Principle," NBER Working Papers 28881, National Bureau of Economic Research, Inc.
    32. Hellwig, Christian & Venkateswaran, Venky, 2025. "Dispersed information, nominal rigidities and monetary business cycles: A Hayekian perspective," Journal of Monetary Economics, Elsevier, vol. 155(S).
    33. Zuzana Irsova & Hristos Doucouliagos & Tomas Havranek & T. D. Stanley, 2024. "Meta‐analysis of social science research: A practitioner's guide," Journal of Economic Surveys, Wiley Blackwell, vol. 38(5), pages 1547-1566, December.
    34. Florian B¨oser, 2021. "Monetary Policy under Subjective Beliefs of Banks: Optimal Central Bank Collateral Requirements," CER-ETH Economics working paper series 21/357, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    35. Lucas Herrenbrueck, Zijian Wang, 2023. "Interest Rates, Moneyness, and the Fisher Equation," Discussion Papers dp23-11, Department of Economics, Simon Fraser University.
    36. Wu, Jieran, 2022. "Comments on “Sentiments and real business cycles”," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    37. Liu, Xuewen & Wang, Pengfei & Yang, Zhongchao, 2024. "Delayed crises and slow recoveries," Journal of Financial Economics, Elsevier, vol. 152(C).
    38. Daisuke Ida, 2025. "Optimal Monetary Policy Rules in a Behavioural New Keynesian Model," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 87(6), pages 1106-1121, December.
    39. Drenik, Andrés & Perez, Diego J., 2020. "Price setting under uncertainty about inflation," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 23-38.
    40. Han, Zhao, 2024. "Asymmetric information and misaligned inflation expectations," Journal of Monetary Economics, Elsevier, vol. 143(C).
    41. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    42. Lisa Keding & Marten C. Ritterrath, 2025. "Inventors' Personal Experience of Natural Disasters and Green Innovation," ECONtribute Discussion Papers Series 380, University of Bonn and University of Cologne, Germany.
    43. Ricardo J. Caballero & Alp Simsek, 2020. "Monetary Policy with Opinionated Markets," NBER Working Papers 27313, National Bureau of Economic Research, Inc.
    44. Michael Woodford, 2019. "Modeling Imprecision in Perception, Valuation and Choice," NBER Working Papers 26258, National Bureau of Economic Research, Inc.

  15. George-Marios Angeletos, 2017. "Frictional Coordination," NBER Working Papers 24178, National Bureau of Economic Research, Inc.

    Cited by:

    1. Edouard Challe, 2018. "Is the study of business-cycle fluctuations 'scientific'?," Post-Print hal-03389352, HAL.
    2. Ilut, Cosmin & Saijo, Hikaru, 2021. "Learning, confidence, and business cycles," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 354-376.
    3. Joshua Brault & Hashmat Khan, 2018. "The Shifts in Lead-Lag Properties of the US Business Cycle," Carleton Economic Papers 18-03, Carleton University, Department of Economics, revised 01 Mar 2019.
    4. Donato Masciandaro & Davide Romelli & Gaia Rubera, 2021. "Monetary policy and financial markets: evidence from Twitter traffic," BAFFI CAREFIN Working Papers 21160, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    5. Becard, Yvan & Gauthier, David, 2023. "Banks, nonbanks, and business cycles," European Economic Review, Elsevier, vol. 154(C).
    6. Donato Masciandaro & Davide Romelli & Gaia Rubera, 2020. "Tweeting on Monetary Policy and Market Sentiments: The Central Bank Surprise Index," BAFFI CAREFIN Working Papers 20134, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.

  16. George-Marios Angeletos & Chen Lian, 2017. "Dampening General Equilibrium: From Micro to Macro," NBER Working Papers 23379, National Bureau of Economic Research, Inc.

    Cited by:

    1. Peter Andre & Carlo Pizzinelli & Christopher Roth & Johannes Wohlfart, 2021. "Subjective Models of the Macroeconomy: Evidence From Experts and Representative Samples," ECONtribute Discussion Papers Series 119, University of Bonn and University of Cologne, Germany.
    2. George-Marios Angeletos & Chen Lian, 2020. "Confidence and the Propagation of Demand Shocks," NBER Working Papers 27702, National Bureau of Economic Research, Inc.
    3. Bianchi-Vimercati, Riccardo & Eichenbaum, Martin & Guerreiro, Joao, 2024. "Fiscal stimulus with imperfect expectations: Spending vs. tax policy," Journal of Economic Theory, Elsevier, vol. 217(C).
    4. Chen Lian, 2021. "A Theory of Narrow Thinking," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(5), pages 2344-2374.
    5. Gabaix, Xavier, 2018. "Behavioral Inattention," CEPR Discussion Papers 13268, Centre for Economic Policy Research.
    6. D'Acunto, Francesco & Hoang, Daniel & Weber, Michael, 2021. "Managing households' expectations with unconventional policies," Working Paper Series in Economics 148, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    7. Xavier Gabaix, 2016. "A Behavioral New Keynesian Model," NBER Working Papers 22954, National Bureau of Economic Research, Inc.
    8. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    9. Camille Cornand & Frank Heinemann, 2019. "Experiments in macroeconomics: methods and applications," Post-Print halshs-01809937, HAL.
    10. Jessica Piccolo & Alessia Russo & Eleonora Granziera & Efrem Castelnuovo, 2026. "Households’ Macroeconomic Beliefs: The Role of Education," CESifo Working Paper Series 12784, CESifo.
    11. Massenot, Baptiste, 2020. "Pain of Paying in a Business Cycle Model," SAFE Working Paper Series 194, Leibniz Institute for Financial Research SAFE, revised 2020.
    12. Martin Eichenbaum, 2023. "On the limits of rational expectations for policy analysis," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1221-1237, November.
    13. Zhou, Hang, 2022. "Informed speculation with k-level reasoning," Journal of Economic Theory, Elsevier, vol. 200(C).
    14. Christopher J. Erceg & Andrea Prestipino & Andrea Raffo, 2018. "The Macroeconomic Effects of Trade Policy," International Finance Discussion Papers 1242, Board of Governors of the Federal Reserve System (U.S.).
    15. Carlos Alós-Ferrer & Johannes Buckenmaier, 2018. "Cognitive sophistication and deliberation times," ECON - Working Papers 292, Department of Economics - University of Zurich, revised Apr 2019.
    16. Gemmi, Luca, 2024. "Rational overoptimism and limited liability," Journal of Monetary Economics, Elsevier, vol. 143(C).
    17. Teeple, Keisuke, 2023. "Level-k predatory trading," Journal of Mathematical Economics, Elsevier, vol. 106(C).
    18. Han, Zhao, 2024. "Asymmetric information and misaligned inflation expectations," Journal of Monetary Economics, Elsevier, vol. 143(C).
    19. Carvajal, A. & Zhou, H., 2025. "Learning to bet (rationally) with logs," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
    20. Helland, Leif & Iachan, Felipe S. & Juelsrud, Ragnar E. & Nenov, Plamen T., 2021. "Information quality and regime change: Evidence from the lab," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 538-554.

  17. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.

    Cited by:

    1. George-Marios Angeletos & Chen Lian, 2017. "Forward Guidance without Common Knowledge," 2017 Meeting Papers 89, Society for Economic Dynamics.
    2. Han, Zhao & Tan, Fei & Wu, Jieran, 2022. "Analytic policy function iteration," Journal of Economic Theory, Elsevier, vol. 200(C).
    3. Malmendier, Ulrike M., 2020. "Exposure to Grocery Prices and Inflation Expectations," CEPR Discussion Papers 14930, Centre for Economic Policy Research.
    4. Cornand, Camille & Hubert, Paul, 2022. "Information frictions across various types of inflation expectations," European Economic Review, Elsevier, vol. 146(C).
    5. Chanelle Duley & Prasanna Gai, 2020. "When the penny doesn't drop - Macroeconomic tail risk and currency crises," National Institute of Economic and Social Research (NIESR) Discussion Papers 520, National Institute of Economic and Social Research.
    6. Heinke, Steve, 2024. "Top–down and bottom–up information acquisition: Application to financial markets," Economics Letters, Elsevier, vol. 237(C).
    7. George‐Marios Angeletos & Fabrice Collard & Harris Dellas, 2018. "Quantifying Confidence," Econometrica, Econometric Society, vol. 86(5), pages 1689-1726, September.
    8. Masashige Hamano & Munechika Katayama & So Kubota, 2020. "COVID-19 Misperception and Macroeconomy," Working Papers 2016, Waseda University, Faculty of Political Science and Economics.
    9. Cary D. Frydman & Salvatore Nunnari, 2021. "Coordination with Cognitive Noise," CESifo Working Paper Series 9483, CESifo.
    10. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.
    11. Gobbi, Alessandro & Grazzini, Jakob, 2019. "A basic New Keynesian DSGE model with dispersed information: An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 101-116.
    12. Darmouni, Olivier & Sutherland, Andrew, 2018. "Learning about Competitors: Evidence from SME Lending," MPRA Paper 93668, University Library of Munich, Germany.
    13. Hommes, Cars, 2018. "Behavioral & experimental macroeconomics and policy analysis: a complex systems approach," Working Paper Series 2201, European Central Bank.
    14. Rondina, Giacomo & Walker, Todd B., 2021. "Confounding dynamics," Journal of Economic Theory, Elsevier, vol. 196(C).
    15. Guimaraes, Bernardo & Jardanovski, Gabriel, 2021. "Who matters in dynamic coordination problems?," Textos para discussão 543, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    16. Tarashev, Nikola & Zabai, Anna, 2019. "When pegging is a commitment device: Revisiting conventional wisdom about currency crises," Journal of International Economics, Elsevier, vol. 118(C), pages 233-247.
    17. Giorgio Rampa & Margherita Saraceno, 2018. "Accuracy and Costs of Dispute Resolution with Heterogeneous Consumers. A Conjectural Approach to Mass Litigation," DEM Working Papers Series 155, University of Pavia, Department of Economics and Management.
    18. Tamás Sebestyén & Dóra Longauer, 2018. "Network structure, equilibrium and dynamics in a monopolistically competitive economy," Netnomics, Springer, vol. 19(3), pages 131-157, December.
    19. Donato Masciandaro, 2018. "Central Banking and Macroeconomic Ideas: Economics, Politics and History," BAFFI CAREFIN Working Papers 1858, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    20. Grundmann, Susanna & Giamattei, Marcus & Graf Lambsdorff, Johann, 2020. "On the downward rigidity of wages: Evidence from an experimental labour market with monetary neutrality," Passauer Diskussionspapiere, Volkswirtschaftliche Reihe V-80-20, University of Passau, Faculty of Business and Economics.
    21. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    22. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    23. Kohlhas, Alexandre N. & Robertson, Donald, 2025. "Cautious expectations," Journal of Monetary Economics, Elsevier, vol. 155(S).
    24. Camille Cornand & Frank Heinemann, 2019. "Experiments in macroeconomics: methods and applications," Post-Print halshs-01809937, HAL.
    25. Alexandre Kohlhas & Vladimir Asriyan, 2025. "The Macroeconomics of Data: Scale, Product Choice, and Pricing in the Information Age," Economics Series Working Papers 1073, University of Oxford, Department of Economics.
    26. Nagel, Rosemarie & Bühren, Christoph & Frank, Björn, 2017. "Inspired and inspiring: Hervé Moulin and the discovery of the beauty contest game," Mathematical Social Sciences, Elsevier, vol. 90(C), pages 191-207.
    27. Pellet, Thomas & Tahbaz-Salehi, Alireza, 2023. "Rigid production networks," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 86-102.
    28. Paul Levine & Joseph Pearlman & Bo Yang & Son Pham, 2025. "Recent Developments in DSGE Modelling: Beyond FIRE," South Asian Journal of Macroeconomics and Public Finance, , vol. 14(1), pages 11-43, June.
    29. Jianjun Miao & Dongling Su, 2019. "Asset Market Equilibrium under Rational Inattention," Boston University - Department of Economics - Working Papers Series WP2019-09, Boston University - Department of Economics.
    30. Camille Cornand & Paul Hubert, 2022. "Information frictions in inflation expectations among five types of economic agents," Post-Print hal-03468918, HAL.
    31. Jonathan J Adams & Eugenio Rojas, 2023. "Household Consumption and Dispersed Information," Working Papers 001009, University of Florida, Department of Economics.
    32. Besancenot, Damien & Vranceanu, Radu, 2018. "Crowdfunding with overenthusiastic investors : a global game model," ESSEC Working Papers WP1802, ESSEC Research Center, ESSEC Business School.
    33. Heinemann, Frank, 2024. "An experimental test of the global-game selection in coordination games with asymmetric players," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 632-656.
    34. Mauersberger, Felix, 2021. "Monetary policy rules in a non-rational world: A macroeconomic experiment," Journal of Economic Theory, Elsevier, vol. 197(C).
    35. Jenny Chan, 2020. "Monetary Policy and Sentiment-Driven Fluctuations," Discussion Papers 2020, Centre for Macroeconomics (CFM).
    36. Michal Szkup & Isabel Trevino, 2026. "Selection through information acquisition in coordination games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 81(1), pages 113-148, February.
    37. Szkup, Michal & Trevino, Isabel, 2020. "Sentiments, strategic uncertainty, and information structures in coordination games," Games and Economic Behavior, Elsevier, vol. 124(C), pages 534-553.
    38. Szkup, Michal, 2020. "Multiplier effect and comparative statics in global games of regime change," Theoretical Economics, Econometric Society, vol. 15(2), May.
    39. Mackowiak, Bartosz & Matějka, Filip & Wiederholt, Mirko, 2020. "Rational Inattention: A Review," CEPR Discussion Papers 15408, Centre for Economic Policy Research.
    40. Łukasz Balbus & Paweł Dziewulski & Kevin Reffett & Łukasz Woźny, 2020. "Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk," KAE Working Papers 2020-052, Warsaw School of Economics, Collegium of Economic Analysis.
    41. Francesco D'Acunto & Ulrike M. Malmendier & Juan Ospina & Michael Weber & Michael Weber, 2019. "Exposure to Daily Price Changes and Inflation Expectations," CESifo Working Paper Series 7798, CESifo.
    42. Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).
    43. Nathan Goldstein & Ohad Raveh, 2024. "Looking up the sky: unidentified aerial phenomena and macroeconomic attention," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-25, December.
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    119. Mirela Miescu, 2022. "Forward guidance shocks," Working Papers 352591340, Lancaster University Management School, Economics Department.
    120. Kim, Hyeongwoo & Shao, Peng & Zhang, Shuwei, 2023. "Policy coordination and the effectiveness of fiscal stimulus," Journal of Macroeconomics, Elsevier, vol. 75(C).
    121. Philippe Andrade & Erwan Gautier & Eric Mengus & Emanuel Münch & Tobias Schmidt, 2025. "Household Beliefs about Fiscal Dominance," Working papers 986, Banque de France.
    122. Fehr, Dietmar & Heinemann, Frank & Llorente-Saguer, Aniol, 2019. "The power of sunspots: An experimental analysis," Journal of Monetary Economics, Elsevier, vol. 103(C), pages 123-136.
    123. Stéphane Dupraz & Hervé Le Bihan & Julien Matheron, 2022. "Make-up Strategies with Finite Planning Horizons but Forward-Looking Asset Prices," Working Papers 2218, Banco de España.
    124. Meyer-Gohde, Alexander, 2026. "Solving and analyzing DSGE models in the frequency domain," Journal of Economic Dynamics and Control, Elsevier, vol. 185(C).
    125. Han, Zhao, 2024. "Asymmetric information and misaligned inflation expectations," Journal of Monetary Economics, Elsevier, vol. 143(C).
    126. Pascal Kieren & Christian König-Kersting & Robert Schmidt & Stefan Trautmann & Franziska Heinicke, 2023. "First-Order and Higher-Order Inflation Expectations: Evidence about Households and Firms," Working Papers 2023-10, Faculty of Economics and Statistics, Universität Innsbruck.
    127. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    128. Hassan Afrouzi & Joel P. Flynn & Choongryul Yang, 2024. "What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?," Finance and Economics Discussion Series 2024-053, Board of Governors of the Federal Reserve System (U.S.).
    129. Eskelinen, Maria & Gibbs, Christopher G. & McClung, Nigel, 2024. "Resolving new keynesian puzzles," Bank of Finland Research Discussion Papers 5/2024, Bank of Finland.
    130. Doh, Taeyoung & Smith, A. Lee, 2022. "A new approach to integrating expectations into VAR models," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 24-43.
    131. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    132. Airaudo, Marco, 2025. "Temptation-driven preferences: A resolution to New Keynesian anomalies," European Economic Review, Elsevier, vol. 172(C).

  19. Chen Lian & George-Marios Angeletos, 2016. "Dampening General Equilibrium: From Micro Elasticities to Macro Effects," 2016 Meeting Papers 1456, Society for Economic Dynamics.

    Cited by:

    1. George-Marios Angeletos & Chen Lian, 2016. "Forward Guidance without Common Knowledge," NBER Working Papers 22785, National Bureau of Economic Research, Inc.
    2. Yongok Choi & Giacomo Rondina & Todd B. Walker, 2023. "Information Aggregation Bias and Samuelson's Dictum," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(5), pages 1119-1145, August.
    3. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.

  20. Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2016. "Efficiency and Policy with Endogenous Learning," 2016 Meeting Papers 229, Society for Economic Dynamics.

    Cited by:

    1. Xavier Vives, 2016. "Endogenous Public Information and Welfare in Market Games," 2016 Meeting Papers 413, Society for Economic Dynamics.
    2. Saleem Bahaj & Angus Foulis, 2016. "Macroprudential policy under uncertainty," Bank of England Staff Working Paper series 584, Bank of England.
    3. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
    4. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.

  21. George-Marios Angeletos & Luigi Iovino & Jennifer La'o, 2015. "Real Rigidity, Nominal Rigidity, and the Social Value of Information," Working Papers 543, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.

    Cited by:

    1. George-Marios Angeletos & Chen Lian, 2017. "Forward Guidance without Common Knowledge," 2017 Meeting Papers 89, Society for Economic Dynamics.
    2. Iovino, Luigi, 2023. "Comment on “Rigid production networks” by Pellet and Tahbaz-Salehi," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 103-106.
    3. Camille Cornand & Frank Heinemann, 2018. "Monetary Policy obeying the Taylor Principle Turns Prices into Strategic Substitutes," Working Papers 1805, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    4. Chengcheng Jia, 2019. "The Informational Effect of Monetary Policy and the Case for Policy Commitment," Working Papers 19-07R, Federal Reserve Bank of Cleveland, revised 09 May 2022.
    5. Ippei FUJIWARA & Yuichiro WAKI, 2016. "Private News and Monetary Policy: Forward guidance or the expected virtue of ignorance," Discussion papers 16027, Research Institute of Economy, Trade and Industry (RIETI).
    6. Camille Cornand & Romain Baeriswyl & Bruno Ziliotto, 2019. "Observing and shaping the market: the dilemma of central banks," Post-Print hal-01644269, HAL.
    7. Lustenberger, Thomas & Rossi, Enzo, 2018. "The Social Value of Information: A Test of a Beauty and Non-Beauty Contest," Working papers 2018/05, Faculty of Business and Economics - University of Basel.
    8. Benhima, Kenza & Blengini, Isabella, 2019. "Optimal Monetary Policy when Information is Market-Generated," CEPR Discussion Papers 13817, Centre for Economic Policy Research.
    9. Pellet, Thomas & Tahbaz-Salehi, Alireza, 2023. "Rigid production networks," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 86-102.
    10. Alexandre N. Kohlhas & Ansgar Walther, 2021. "Asymmetric Attention," American Economic Review, American Economic Association, vol. 111(9), pages 2879-2925, September.
    11. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
    12. Alexandre Kohlhas, 2018. "Asymmetric Attention," 2018 Meeting Papers 1040, Society for Economic Dynamics.
    13. Gaballo, Gaetano & Andrade, Philippe & Mengus, Eric & Mojon, Benoit, 2018. "Forward Guidance and Heterogeneous Beliefs," CEPR Discussion Papers 12650, Centre for Economic Policy Research.
    14. Gianluca Femminis & Giulio Piccirilli, 2020. "Public information, education and welfare," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 37(1), pages 137-166, April.
    15. Jakob Grazzini & Domenico Massaro, 2016. "Dispersed Information and the Origins of Aggregate Fluctuations," CESifo Working Paper Series 5957, CESifo.
    16. Femminis, Gianluca & Piccirilli, Giulio, 2023. "Optimal policy with dispersed information and uncertain monetary transmission," Economics Letters, Elsevier, vol. 229(C).
    17. Stephanie L. Chan, 2021. "The Social Value of Public Information When Not Everyone is Privately Informed," Working Papers 2021-09-18, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
    18. Ding, Qiushuo & Luo, Yulei & Wang, Gaowang, 2026. "Optimal Monetary Policy with Confounding Information," MPRA Paper 128146, University Library of Munich, Germany.
    19. Coenen, Günter & Ehrmann, Michael & Gaballo, Gaetano & Hoffmann, Peter & Nakov, Anton & Nardelli, Stefano & Persson, Eric & Strasser, Georg, 2017. "Communication of monetary policy in unconventional times," Working Paper Series 2080, European Central Bank.
    20. Ou, Shengliang & Zhang, Donghai & Zhang, Renbin, 2021. "Information frictions, monetary policy, and the paradox of price flexibility," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 70-82.
    21. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    22. Zaccaria, Niccolò, 2025. "Overconfidence and Information Aggregation," Discussion Paper 2025-004, Tilburg University, Center for Economic Research.
    23. Kohlhas, Alexandre N., 2020. "An informational rationale for action over disclosure," Journal of Economic Theory, Elsevier, vol. 187(C).
    24. Hellwig, Christian & Venkateswaran, Venky, 2025. "Dispersed information, nominal rigidities and monetary business cycles: A Hayekian perspective," Journal of Monetary Economics, Elsevier, vol. 155(S).
    25. Sockin, Michael, 2025. "Informational frictions in funding and credit markets," Journal of Economic Theory, Elsevier, vol. 230(C).
    26. Guangyu PEI, 2019. "Uncertainty, Pessimism and Economic Fluctuations," 2019 Meeting Papers 1494, Society for Economic Dynamics.
    27. Iovino, Luigi & La’O, Jennifer & Mascarenhas, Rui, 2022. "Optimal monetary policy and disclosure with an informationally-constrained central banker," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 151-172.
    28. Ippei Fujiwara & Yuichiro Waki, 2022. "The Delphic forward guidance puzzle in New Keynesian models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 46, pages 280-301, October.
    29. Candian, Giacomo, 2021. "Central bank transparency, exchange rates, and demand imbalances," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 90-107.
    30. Jonathan J Adams, 2019. "Macroeconomic Models with Incomplete Information and Endogenous Signals," Working Papers 001004, University of Florida, Department of Economics.
    31. Jakob Grazzini & Domenico Massaro, 2021. "Dispersed information, social networks, and aggregate behavior," Economic Inquiry, Western Economic Association International, vol. 59(3), pages 1129-1148, July.
    32. Drenik, Andrés & Perez, Diego J., 2020. "Price setting under uncertainty about inflation," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 23-38.
    33. Giacomo Como & Fabio Fagnani & Elisa Luciano & Alessandro Milazzo & Marco Scarsini, 2026. "Rigidity and default in production networks," Papers 2604.23566, arXiv.org.
    34. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    35. Ou, Shengliang & Yin, Penghui & Zhang, Donghai & Zhang, Renbin, 2026. "Nominal rigidities, rational inattention, and the optimal monetary policy," Journal of Economic Theory, Elsevier, vol. 232(C).

  22. Dellas, Harris & Collard, Fabrice & Angeletos, George-Marios, 2015. "Quantifying Confidence," CEPR Discussion Papers 10463, Centre for Economic Policy Research.

    Cited by:

    1. Yongheng Hu, 2025. "How Big Data Dilutes Cognitive Resources, Interferes with Rational Decision-making and Affects Wealth Distribution ?," Papers 2508.20435, arXiv.org, revised Aug 2025.
    2. Omotosho, Babatunde S., 2019. "Business Cycle Fluctuations in Nigeria: Some Insights from an Estimated DSGE Model," MPRA Paper 98351, University Library of Munich, Germany.
    3. Moench, Emanuel & Soofi Siavash, Soroosh, 2022. "What Moves Treasury Yields?," CEPR Discussion Papers 15978, Centre for Economic Policy Research.
    4. Andres Algaba & David Ardia & Keven Bluteau & Samuel Borms & Kris Boudt, 2020. "Econometrics Meets Sentiment: An Overview Of Methodology And Applications," Journal of Economic Surveys, Wiley Blackwell, vol. 34(3), pages 512-547, July.
    5. Chatterjee, Pratiti & Milani, Fabio, 2020. "Perceived uncertainty shocks, excess optimism-pessimism, and learning in the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 179(C), pages 342-360.
    6. Eggers, Andrew C. & Ellison, Martin & Lee, Sang Seok, 2021. "The economic impact of recession announcements," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 40-52.
    7. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    8. Oscar Pavlov & Mark Weder, 2017. "Product Scope and Endogenous Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 24, pages 175-191, March.
    9. Carbonari, Lorenzo & Maurici, Filippo, 2023. "Firm heterogeneity, financial frictions and ambiguity," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    10. Jean-Paul L’Huillier & Robert Waldmann & Donghoon Yoo, 2021. "What Is Consumer Confidence?," ISER Discussion Paper 1135r, Institute of Social and Economic Research, The University of Osaka, revised Dec 2022.
    11. Müller, Gernot & Enders, Zeno & Kleemann, Michael, 2016. "Growth expectations, undue optimism, and short-run fluctuations," CEPR Discussion Papers 11521, Centre for Economic Policy Research.
    12. Berardi, Michele, 2022. "Uncertainty and sentiments in asset prices," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 498-516.
    13. Chua, Yeow Hwee & Hong, Zu Yao, 2026. "Tail risk and expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 242(C).
    14. Simionescu, Mihaela, 2022. "Econometrics of sentiments- sentometrics and machine learning: The improvement of inflation predictions in Romania using sentiment analysis," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    15. Nowzohour, Laura & Stracca, Livio, 2017. "More than a feeling: confidence, uncertainty and macroeconomic fluctuations," Working Paper Series 2100, European Central Bank.
    16. Ilut, Cosmin & Saijo, Hikaru, 2021. "Learning, confidence, and business cycles," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 354-376.
    17. Tian, Can, 2022. "Learning and firm dynamics in a stochastic equilibrium," Journal of Economic Theory, Elsevier, vol. 203(C).
    18. Albonico, Alice & Ascari, Guido & Haque, Qazi, 2025. "Monetary policy in the euro area: Active or passive?," European Economic Review, Elsevier, vol. 177(C).
    19. Kanzari, Dalel & Nakhli, Mohamed Sahbi & Gaies, Brahim & Sahut, Jean-Michel, 2023. "Predicting macro-financial instability – How relevant is sentiment? Evidence from long short-term memory networks," Research in International Business and Finance, Elsevier, vol. 65(C).
    20. Stephen McKnight & Laura Povoledo, 2021. "Endogenous Fluctuations and International Business Cycles," Serie documentos de trabajo del Centro de Estudios Económicos 2021-10, El Colegio de México, Centro de Estudios Económicos.
    21. Anmol Bhandari & Jaroslav Borovicka & Paul Ho, 2019. "Survey Data and Subjective Beliefs in Business Cycle Models," Working Paper 19-14, Federal Reserve Bank of Richmond.
    22. Acharya, Sushant & Benhabib, Jess & Huo, Zhen, 2021. "The anatomy of sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 195(C).
    23. Martin Iseringhausen & Konstantinos Theodoridis, 2025. "A survey-based measure of asymmetric macroeconomic risk in the euro area," Working Papers 68, European Stability Mechanism, revised 11 Feb 2025.
    24. Stephane Dees & Srecko Zimic, 2019. "Animal spirits, fundamental factors and business cycle fluctuations," Post-Print hal-03285242, HAL.
    25. Gazzani, Andrea & Venditti, Fabrizio & Veronese, Giovanni, 2024. "Oil price shocks in real time," Journal of Monetary Economics, Elsevier, vol. 144(C).
    26. Saki Bigio & Eduardo Zilberman, 2020. "Speculation-Driven Business Cycles," Working Papers Central Bank of Chile 865, Central Bank of Chile.
    27. Aabid Karim & Heman Das Lohano, 2024. "Sentiment Analysis of State Bank of Pakistan's Monetary Policy Documents and its Impact on Stock Market," Papers 2408.03328, arXiv.org.
    28. Francesco Bianchi & Giovanni Nicolo & Dongho Song, 2023. "Inflation and Real Activity over the Business Cycle," Finance and Economics Discussion Series 2023-038, Board of Governors of the Federal Reserve System (U.S.).
    29. Alexandre N. Kohlhas & Ansgar Walther, 2021. "Asymmetric Attention," American Economic Review, American Economic Association, vol. 111(9), pages 2879-2925, September.
    30. Saccal, Alessandro, 2021. "Confidence and economic activity in Europe," MPRA Paper 108812, University Library of Munich, Germany.
    31. Maćkowiak, Bartosz & Wiederholt, Mirko, 2023. "Rational inattention and the business cycle effects of productivity and news shocks," Working Paper Series 2827, European Central Bank.
    32. Pollak, Andreas, 2022. "A Unified Theory of Growth, Cycles and Unemployment - Part II: Business Cycles and Unemployment," MPRA Paper 117769, University Library of Munich, Germany.
    33. Chenxi Wang, 2023. "Asset bubbles and frictional intermediation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(3), pages 921-961, October.
    34. Makridis, Christos A., 2022. "The social transmission of economic sentiment on consumption," European Economic Review, Elsevier, vol. 148(C).
    35. Bachmann, Rüdiger & Zorn, Peter, 2020. "What drives aggregate investment? Evidence from German survey data," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    36. Hashmat Khan & Jean‐François Rouillard & Santosh Upadhayaya, 2026. "Consumer confidence and household investment," Economic Inquiry, Western Economic Association International, vol. 64(2), pages 641-662, April.
    37. Samuele Ridolfi, 2024. "Behavioral Macroeconomics: A Systematic Review for Policy Insights," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 8(S2), pages 35-42, December.
    38. Chen, Zhenxi & Lien, Donald & Lin, Yaheng, 2021. "Sentiment: The bridge between financial markets and macroeconomy," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 1177-1190.
    39. Feng Dong & Jianjun Miao & Pengfei Wang, 2020. "Asset Bubbles and Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 68-98, August.
    40. Roberta Terranova, 2025. "Endogenous beliefs and social influence in a simple macroeconomic framework," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 20(3), pages 583-641, July.
    41. Cole, Stephen J. & Milani, Fabio, 2021. "Heterogeneity in individual expectations, sentiment, and constant-gain learning," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 627-650.
    42. Kozeniauskas, Nicholas & Orlik, Anna & Veldkamp, Laura, 2018. "What are uncertainty shocks?," Journal of Monetary Economics, Elsevier, vol. 100(C), pages 1-15.
    43. William Gatt, 2025. "Housing Boom‐Bust Cycles and Asymmetric Macroprudential Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(2-3), pages 615-643, March.
    44. Christian Myohl, 2018. "The Effect of a Financial Block on the Identification of Confidence Shocks in a Structural VAR Model," Diskussionsschriften dp1821, Universitaet Bern, Departement Volkswirtschaft.
    45. Neri, Stefano, 2023. "Long-term inflation expectations and monetary policy in the euro area before the pandemic," European Economic Review, Elsevier, vol. 154(C).
    46. Bijapur, Mohan, 2014. "What Drives Business Cycle Fluctuations: Aggregate or Idiosyncratic Uncertainty Shocks?," MPRA Paper 60361, University Library of Munich, Germany.
    47. Angelos Kanas & Panagiotis D. Zervopoulos, 2021. "Systemic risk, real GDP growth, and sentiment," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 461-485, August.
    48. Cascaldi-Garcia, Danilo, 2025. "Forecast revisions as instruments for news shocks," Journal of Monetary Economics, Elsevier, vol. 151(C).
    49. Michał Brzoza‐Brzezina & Jacek Kotłowski & Grzegorz Wesołowski, 2022. "International information flows, sentiments, and cross‐country business cycle fluctuations," Review of International Economics, Wiley Blackwell, vol. 30(4), pages 1110-1147, September.
    50. Gabriel Pino & Jose Barrales-Ruiz, 2026. "Heterogeneous impact of consumer confidence on US aggregate consumption over the business cycle," Empirical Economics, Springer, vol. 70(1), pages 1-15, January.
    51. Vinci, Francesca & Licandro, Omar, 2021. "Switching-track after the Great Recession," Working Paper Series 2596, European Central Bank.
    52. Ascari, Guido & Fasani, Stefano & Grazzini, Jakob & Rossi, Lorenza, 2023. "Endogenous uncertainty and the macroeconomic impact of shocks to inflation expectations," Journal of Monetary Economics, Elsevier, vol. 140(S), pages 48-63.
    53. Patella, Valeria & Tancioni, Massimiliano, 2021. "Confidence Swings and Sovereign Risk Dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 56(C), pages 195-206.
    54. Xuewen Liu & Pengfei Wang & Sichuang Xu, 2024. "Asset‐Market Sentiments And Business Cycle Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(4), pages 1795-1819, November.
    55. Hashmat Khan & Santosh Upadhayaya, 2020. "Does business confidence matter for investment?," Empirical Economics, Springer, vol. 59(4), pages 1633-1665, October.
    56. Zaccaria, Niccolò, 2025. "Overconfidence and Information Aggregation," Discussion Paper 2025-004, Tilburg University, Center for Economic Research.
    57. Hollmayr, Josef & Kühl, Michael, 2019. "Learning about banks’ net worth and the slow recovery after the financial crisis," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    58. Ryan Chahrour & Kristoffer Nimark & Stefan Pitschner, 2019. "Sectoral Media Focus and Aggregate Fluctuations," Boston College Working Papers in Economics 987, Boston College Department of Economics.
    59. Silva, Mario Rafael & Urias, Marshall, 2025. "Productive demand and sectoral capacity utilization," Economic Modelling, Elsevier, vol. 153(C).
    60. Benhima, Kenza & Poilly, Céline, 2021. "Does demand noise matter? Identification and implications," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 278-295.
    61. Alvarado, Mauricio & Rodríguez, Gabriel, 2025. "Time-varying effects of financial uncertainty shocks on macroeconomic fluctuations in Peru," Journal of International Money and Finance, Elsevier, vol. 152(C).
    62. Martin Iseringhausen & Ivan Petrella & Konstantinos Theodoridis, 2022. "Aggregate skewness and the business cycle," Working Papers 53, European Stability Mechanism.
    63. Benhabib, Jess & Liu, Xuewen & Wang, Pengfei, 2016. "Sentiments, financial markets, and macroeconomic fluctuations," Journal of Financial Economics, Elsevier, vol. 120(2), pages 420-443.
    64. Gondhi, Naveen, 2023. "Rational inattention, misallocation, and the aggregate economy," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 50-75.
    65. Becard, Yvan & Gauthier, David, 2023. "Banks, nonbanks, and business cycles," European Economic Review, Elsevier, vol. 154(C).
    66. Wu, Jieran, 2022. "Comments on “Sentiments and real business cycles”," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    67. Leon Podkaminer, 2021. "Dynamic Stochastic General Equilibrium: macroeconomics at a dead end," Bank i Kredyt, Narodowy Bank Polski, vol. 52(2), pages 97-122.
    68. Bassanin, Marzio & Faia, Ester & Patella, Valeria, 2021. "Ambiguity attitudes and the leverage cycle," Journal of International Economics, Elsevier, vol. 129(C).
    69. Genaro Mart'in Damiani, 2024. "An essay on the history of DSGE models," Papers 2409.00812, arXiv.org, revised Feb 2025.
    70. Hall, R.E., 2016. "Macroeconomics of Persistent Slumps," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2131-2181, Elsevier.
    71. Alexandra Born & Zeno Enders, 2018. "Global Banking, Trade, and the International Transmission of the Great Recession," CESifo Working Paper Series 6912, CESifo.
    72. Mehmet Burak Turgut, 2025. "Sentiment shocks, productivity, and long‐run growth," Economic Inquiry, Western Economic Association International, vol. 63(4), pages 1090-1109, October.
    73. Xu, Zhiwei & Zhou, Fei & Zhou, Jing, 2022. "Sentiments and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    74. Michał Brzoza-Brzezina & Jacek Kotłowski, 2021. "International confidence spillovers and business cycles in small open economies," Empirical Economics, Springer, vol. 61(2), pages 773-798, August.
    75. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    76. Fiori, Giuseppe & Scoccianti, Filippo, 2023. "The economic effects of firm-level uncertainty: Evidence using subjective expectations," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 92-105.
    77. Saccal, Alessandro, 2023. "A role for confidence: volition regimes and news," MPRA Paper 117484, University Library of Munich, Germany.
    78. Bennani, Hamza, 2019. "Does People's Bank of China communication matter? Evidence from stock market reaction," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    79. Lance Kent, 2015. "Relaxing Rational Expectations," Working Papers 159, Economics Department, William & Mary.
    80. Christian Myohl & Yannic Stucki, 2018. "Confidence and the Financial Accelerator," Diskussionsschriften dp1823, Universitaet Bern, Departement Volkswirtschaft.
    81. Shogo Miura, 2025. "Household assets and business cycle fluctuations," Bulletin of Economic Research, Wiley Blackwell, vol. 77(1), pages 5-25, January.

  23. Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2015. "The Social Value of Information in a Business-Cycle Model," 2015 Meeting Papers 1299, Society for Economic Dynamics.

    Cited by:

    1. Yanlu Yang & Yiyuan Wang & Jun Liu & Kidong Lee, 2024. "An Empirical Study on the Structural Assurance Mechanism for Trust Building in Autonomous Vehicles Based on the Trust-in-Automation Three-Factor Model," Sustainability, MDPI, vol. 16(18), pages 1-21, September.

  24. George-Marios Angeletos & Fabrice Collard & Harris Dellas & Behzad Diba, 2013. "Optimal Public Debt Management and Liquidity Provision," NBER Working Papers 18800, National Bureau of Economic Research, Inc.

    Cited by:

    1. Eric M. Leeper & Campbell B. Leith & Ding Liu, 2019. "Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy," NBER Working Papers 25658, National Bureau of Economic Research, Inc.
    2. Niemann, S & Pichler, P, 2013. "Collateral, liquidity and debt sustainability," Economics Discussion Papers 8979, University of Essex, Department of Economics.
    3. Oleg Itskhoki & Benjamin Moll, 2014. "Optimal Development Policies with Financial Frictions," NBER Working Papers 19994, National Bureau of Economic Research, Inc.
    4. Diego J. Perez, 2015. "Sovereign Debt, Domestic Banks and the Provision of Public Liquidity," Discussion Papers 15-016, Stanford Institute for Economic Policy Research.
    5. Libo Xu & Apostolos Serletis, 2017. "Financial Frictions and the Fiscal Theory of Price Level Determination," Open Economies Review, Springer, vol. 28(2), pages 251-272, April.
    6. Davide Dottori & Michele Manna, 2015. "Strategy and tactics in public debt management," Temi di discussione (Economic working papers) 1005, Bank of Italy, Economic Research and International Relations Area.
    7. Cao, Qingqing, 2024. "Optimal fiscal and monetary policy with collateral constraints," Journal of Economic Dynamics and Control, Elsevier, vol. 161(C).
    8. Guillaume Rocheteau & Jose Antonio Rodriguez-Lopez, 2013. "Liquidity Provision, Interest Rates, and Unemployment," Working Papers 121311, University of California-Irvine, Department of Economics.
    9. Wei Cui, 2017. "When Ramsey Searches for Liquidity," 2017 Meeting Papers 1342, Society for Economic Dynamics.
    10. Robertson, D. & Tambakis, D., 2016. "Long-Run Debt Ratios with Fiscal Fatigue," Cambridge Working Papers in Economics 1674, Faculty of Economics, University of Cambridge.
    11. Cui, Wei, 2016. "Monetary–fiscal interactions with endogenous liquidity frictions," European Economic Review, Elsevier, vol. 87(C), pages 1-25.
    12. Lorenzo Esposito & Giuseppe Mastromatteo, 2019. "Defaultnomics: Making Sense of the Barro-Ricardo Equivalence in a Financialized World," Economics Working Paper Archive wp_933, Levy Economics Institute.
    13. Real Arai & Takuma Kunieda & Keigo Nishida, 2014. "Is Public Debt Growth-Enhancing or Growth-Reducing?," KIER Working Papers 884, Kyoto University, Institute of Economic Research.

  25. George-Marios Angeletos & Alessandro Pavan, 2012. "Selection-Free Predictions in Global Games with Endogenous Information and Multiple Equilibria," Discussion Papers 1570, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    Cited by:

    1. Itay Goldstein & Chong Huang, 2020. "Credit Rating Inflation and Firms' Investments," Journal of Finance, American Finance Association, vol. 75(6), pages 2929-2972, December.
    2. Gobbi, Alessandro & Grazzini, Jakob, 2019. "A basic New Keynesian DSGE model with dispersed information: An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 101-116.
    3. Timmermann, Allan & Wermers, Russ, 2014. "Runs on Money Market Funds," CEPR Discussion Papers 9906, Centre for Economic Policy Research.
    4. Inostroza, Nicolas A. & Pavan, Alessandro, 2025. "Adversarial coordination and public information design," Theoretical Economics, Econometric Society, vol. 20(2), May.
    5. Panagiotis Kyriazis & Edmund Lou, 2023. "It's Not Always the Leader's Fault: How Informed Followers Can Undermine Efficient Leadership," Papers 2307.13841, arXiv.org, revised Aug 2023.
    6. Juan Passadore & Juan Xandri, 2019. "Robust Predictions in Dynamic Policy Games," 2019 Meeting Papers 1345, Society for Economic Dynamics.
    7. Schmidt, Lawrence & Timmermann, Allan & Wermers, Russ, 2014. "Runs on money market mutual funds," CFR Working Papers 12-05 [rev.], University of Cologne, Centre for Financial Research (CFR).
    8. Sanchez Villalba, Miguel, 2015. "Global inspection games," Journal of Public Economics, Elsevier, vol. 128(C), pages 59-72.
    9. Ma, Kebin & Vadasz, Tamas, 2024. "The informational impact of prudential regulations," Journal of Financial Intermediation, Elsevier, vol. 59(C).
    10. Pavan, Alessandro & Vives, Xavier, 2015. "Information, Coordination, and Market Frictions: An Introduction," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 407-426.
    11. Szkup, Michal & Trevino, Isabel, 2015. "Information acquisition in global games of regime change," Journal of Economic Theory, Elsevier, vol. 160(C), pages 387-428.
    12. Daniel Luo, 2024. "Reputation in the Shadow of Exit," Papers 2404.18884, arXiv.org, revised Jun 2026.
    13. Daley, Brendan & Green, Brett, 2014. "Market signaling with grades," Journal of Economic Theory, Elsevier, vol. 151(C), pages 114-145.
    14. Huang, Chong, 2017. "Defending against speculative attacks: The policy maker's reputation," Journal of Economic Theory, Elsevier, vol. 171(C), pages 1-34.
    15. Iachan, Felipe S. & Nenov, Plamen T., 2015. "Information quality and crises in regime-change games," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 739-768.
    16. Chanelle Duley & Prasanna Gai, 2023. "Macroeconomic tail risk, currency crises and the inter‐war gold standard," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1551-1582, November.
    17. Andrew T. Little, 2017. "Coordination, Learning, and Coups," Journal of Conflict Resolution, Peace Science Society (International), vol. 61(1), pages 204-234, January.
    18. Georgy Lukyanov, 2025. "The Welfare Effects of Policy Signalling in a Regime Change Game," Papers 2509.04750, arXiv.org.
    19. Rodrigo Harrison & Pedro Jara‐Moroni, 2021. "Global Games With Strategic Substitutes," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(1), pages 141-173, February.
    20. Jann, Ole & Schottmüller, Christoph, 2021. "Regime change games with an active defender," Games and Economic Behavior, Elsevier, vol. 129(C), pages 96-113.
    21. Iijima, Ryota, 2015. "Iterated generalized half-dominance and global game selection," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 120-136.
    22. Pereira, Ana Elisa, 2021. "Rollover risk and stress test credibility," Games and Economic Behavior, Elsevier, vol. 129(C), pages 370-399.
    23. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    24. Frankel, David M., 2017. "Efficient ex-ante stabilization of firms," Journal of Economic Theory, Elsevier, vol. 170(C), pages 112-144.
    25. Georgy Lukyanov, 2025. "The welfare effects of policy signalling in a regime change game," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 291-303, October.
    26. Szkup, Michal, 2017. "Multiplier effect and comparative statics in global games of regime change," MPRA Paper 82729, University Library of Munich, Germany.
    27. Passadore, Juan & Xandri Antuna, Juan Pablo, 2024. "Robust predictions in dynamic policy games," Theoretical Economics, Econometric Society, vol. 19(4), November.

  26. George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.

    Cited by:

    1. Madalina Anghel & Aurel Diaconu & Marius Popovici, 2016. "Theoretical considerations regarding risk analysis models," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(9), pages 64-72, September.
    2. Rey, Hélène & Coeurdacier, Nicolas & Winant, Pablo, 2015. "Financial Integration and Growth in a Risky World," CEPR Discussion Papers 11009, Centre for Economic Policy Research.
    3. Coeurdacier, Nicolas & Guibaud, Stéphane & Jin, Keyu, 2015. "Credit constraints and growth in a global economy," LSE Research Online Documents on Economics 62016, London School of Economics and Political Science, LSE Library.
    4. Jurgen von Hagen & Haiping Zhang, 2011. "International Capital Flows with Limited Commitment and Incomplete Markets," Working Papers 17-2011, Singapore Management University, School of Economics.
    5. Zhiwei XU & Yi Wen & pengfei Wang, 2013. "Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach," 2013 Meeting Papers 406, Society for Economic Dynamics.
    6. Wang, Xun, 2022. "Financial liberalization and the investment-cash flow sensitivity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    7. Sara Eugeni, 2013. "An OLG model of global imbalances," Discussion Papers 13/05, Department of Economics, University of York.
    8. Christiane Clemens & Maik Heinemann, 2013. "The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions," CESifo Working Paper Series 4441, CESifo.
    9. Karine Gente & Miguel A. León-Ledesma & Carine Nourry, 2013. "External Constraints and Endogenous Growth: Why Didn’t Some Countries Benefit From Capital Flows?," Studies in Economics 1304, School of Economics, University of Kent.
    10. Marina Azzimonti & Vincenzo Quadrini, 2012. "Financial globalization, inequality, and the raising of public debt," Working Papers 12-6, Federal Reserve Bank of Philadelphia.
    11. Karl Farmer & Irina Ban, 2017. "Modeling Financial Integration, Intra-EMU and Asian-US External Imbalances," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 23(3), pages 261-281, August.
    12. Ning Zhang, 2017. "Two-way capital flows: A risk-sharing approach," Working Papers 2019_09, Business School - Economics, University of Glasgow.
    13. Jeanne, Olivier & Sandri, Damiano, 2016. "Optimal Reserves in Financially Closed Economies," CEPR Discussion Papers 11200, Centre for Economic Policy Research.
    14. Clemens Struck & Adnan Velic, 2016. "Competing Gains From Trade," Trinity Economics Papers tep1116, Trinity College Dublin, Department of Economics, revised Apr 2018.
    15. Ana Fostel & John Geanakoplos & Gregory Phelan, 2019. "Global Collateral and Capital Flows," Cowles Foundation Discussion Papers 2169, Cowles Foundation for Research in Economics, Yale University.
    16. Benigno, Gianluca & Fornaro, Luca, 2012. "Reserve Accumulation, Growth and Financial Crises," CEPR Discussion Papers 9224, Centre for Economic Policy Research.
    17. Niemeläinen, Julia, 2021. "External imbalances between China and the United States: A dynamic analysis with a life-cycle model," Journal of International Economics, Elsevier, vol. 131(C).
    18. Karl Farmer, 2016. "The Intertemporal Equilibrium Modeling of Intra-EMU and Global Trade Imbalances," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(4), pages 377-395, November.
    19. Hoffmann, Mathias & Krause, Michael & Tillmann, Peter, 2019. "International capital flows, external assets and output volatility," Journal of International Economics, Elsevier, vol. 117(C), pages 242-255.
    20. Antonio Rodriguez-Lopez, 2016. "Liquidity and the International Allocation of Economic Activity," CESifo Working Paper Series 6286, CESifo.
    21. Dokko, Jane K. & Keys, Benjamin J. & Relihan, Lindsay, 2019. "Affordability, financial innovation and the start of the housing boom," LSE Research Online Documents on Economics 101017, London School of Economics and Political Science, LSE Library.
    22. Jason M. DeBacker & Bradley T. Heim & Vasia Panousi & Shanthi Ramnath & Ivan Vidangos, 2012. "The properties of income risk in privately held businesses," Finance and Economics Discussion Series 2012-69, Board of Governors of the Federal Reserve System (U.S.).
    23. Ana Fostel & John Geanakoplos & Gregory Phelan, 2017. "Global Collateral: How Financial Innovation Drives Capital Flows and Increases Financial Instability," Cowles Foundation Discussion Papers 2076, Cowles Foundation for Research in Economics, Yale University.
    24. Cacciatore, Matteo & Ghironi, Fabio & Stebunovs, Viktors, 2015. "The domestic and international effects of interstate U.S. banking," Journal of International Economics, Elsevier, vol. 95(2), pages 171-187.
    25. Mika Nieminen, 2017. "Patterns of international capital flows and their implications for developing countries," WIDER Working Paper Series wp-2017-171, World Institute for Development Economic Research (UNU-WIDER).
    26. Pierre-Olivier Gourinchas & Hélène Rey, 2013. "External Adjustment, Global Imbalances and Valuation Effects," NBER Working Papers 19240, National Bureau of Economic Research, Inc.
    27. Lei, Xiaowen, 2019. "Information and Inequality," Journal of Economic Theory, Elsevier, vol. 184(C).
    28. Bruton, Garry & Sutter, Christopher & Lenz, Anna-Katharina, 2021. "Economic inequality – Is entrepreneurship the cause or the solution? A review and research agenda for emerging economies," Journal of Business Venturing, Elsevier, vol. 36(3).
    29. Josef Schroth, 2016. "Capital Flows to Developing Countries: Is There an Allocation Puzzle?," Staff Working Papers 16-53, Bank of Canada.
    30. Schroth, Josef, 2023. "Capital flows and growth across developing countries," Journal of International Money and Finance, Elsevier, vol. 137(C).
    31. Fernholz, Ricardo T., 2016. "A Model of economic mobility and the distribution of wealth," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 168-192.
    32. Zsofia Barany & Nicolas Coeurdacier & Stéphane Guibaud, 2015. "Fertility, Longevity and International Capital Flows," Sciences Po Economics Publications (main) hal-01164462, HAL.
    33. David Moreno, 2018. "Institutional Quality and Sovereign Flows," Working Papers Central Bank of Chile 816, Central Bank of Chile.
    34. Tan, Zhibo & Yao, Yang & Wei, Shang-Jin, 2015. "Financial structure, corporate savings and current account imbalances," Journal of International Money and Finance, Elsevier, vol. 54(C), pages 142-167.
    35. Julien Bengui & Enrique G. Mendoza & Vincenzo Quadrini, 2012. "Capital Mobility and International Sharing of Cyclical Risk," NBER Working Papers 18372, National Bureau of Economic Research, Inc.
    36. Damiano Sandri, 2014. "Growth and Capital Flows with Risky Entrepreneurship," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 102-123, July.
    37. Ana Fostel & John Geanakoplos & Gregory Phelan, 2019. "Capital Flows and the Global Collateral Cycle," NBER Working Papers 25583, National Bureau of Economic Research, Inc.
    38. YiLi Chien & Kanda Naknoi, 2011. "The Risk Premium and Long-Run Global Imbalances," Purdue University Economics Working Papers 1266, Purdue University, Department of Economics.
    39. Zhang, Ning, 2019. "Country portfolios under global imbalances," European Economic Review, Elsevier, vol. 119(C), pages 302-317.
    40. Francisco J. Buera & Yongseok Shin, 2017. "Productivity Growth and Capital Flows: The Dynamics of Reforms," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(3), pages 147-185, July.
    41. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-47, Board of Governors of the Federal Reserve System (U.S.).
    42. Marina Azzimonti & Eva de Francisco & Vincenzo Quadrini, 2011. "Financial globalization and the raising of public debt," Working Papers 2011-03, Towson University, Department of Economics, revised Mar 2011.
    43. Minsoo Han, 2013. "Capital Account Openness and the Losses from Financial Frictions," 2013 Meeting Papers 485, Society for Economic Dynamics.
    44. Reda Cherif & Fuad Hasanov, 2012. "The Volatility Trap: Precautionary Saving, Investment, and Aggregate Risk," IMF Working Papers 2012/134, International Monetary Fund.
    45. Wai‐Hong Ho, 2022. "Financial Market Globalization, Deglobalization Policies and Growth," Economica, London School of Economics and Political Science, vol. 89(356), pages 1024-1049, October.
    46. Jürgen von Hagen & Haiping Zhang, 2014. "International Capital Flows in the Model with Limited Commitment and Incomplete Markets," Open Economies Review, Springer, vol. 25(1), pages 195-224, February.
    47. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-31, Board of Governors of the Federal Reserve System (U.S.).
    48. Jonathan Goldberg, 2014. "Idiosyncratic Investment Risk and Business Cycles," Finance and Economics Discussion Series 2014-05, Board of Governors of the Federal Reserve System (U.S.).
    49. Phelan, Gregory & Toda, Alexis Akira, 2019. "Securitized markets, international capital flows, and global welfare," Journal of Financial Economics, Elsevier, vol. 131(3), pages 571-592.
    50. Ning Zhang, 2017. "Country portfolios with habit persistence," Working Papers 2019_10, Business School - Economics, University of Glasgow.
    51. Zhengyang Jiang & Robert J. Richmond & Tony Zhang, 2024. "A Portfolio Approach to Global Imbalances," Journal of Finance, American Finance Association, vol. 79(3), pages 2025-2076, June.
    52. Flavia Corneli, 2021. "Financial Integration Without Financial Development," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(2), pages 201-220, June.
    53. Zheng (Michael) Song & Guiying (Laura) Wu, 2013. "A Structural Estimation on Capital Market Distortions in Chinese Manufacturing," Economic Growth Centre Working Paper Series 1306, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    54. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    55. Yilmazkuday, Hakan, 2021. "Accounting for trade deficits," Journal of International Money and Finance, Elsevier, vol. 115(C).
    56. Nicolas Coeurdacier, 2016. "Fertility, Longevity, and Capital Flows," 2016 Meeting Papers 442, Society for Economic Dynamics.
    57. Jurgen von Hagen & Haiping Zhang, 2011. "International Capital Flows and Aggregate Output," Working Papers 20-2011, Singapore Management University, School of Economics.
    58. Kikuchi, Tomoo & Stachurski, John & Vachadze, George, 2018. "Volatile capital flows and financial integration: The role of moral hazard," Journal of Economic Theory, Elsevier, vol. 176(C), pages 170-192.
    59. Flavia Corneli, 2017. "Medium and long term implications of financial integration without financial development," Temi di discussione (Economic working papers) 1120, Bank of Italy, Economic Research and International Relations Area.
    60. Shengxing Zhang & Keyu Jin, 2015. "Asset prices and creation in a global economy," 2015 Meeting Papers 1253, Society for Economic Dynamics.
    61. Gourinchas, Pierre-Olivier & Rey, Hélène, 2014. "External Adjustment, Global Imbalances, Valuation Effects," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 585-645, Elsevier.
    62. Wulff, Alexander & Heinemann, Maik, 2015. "Idiosyncratic Risk, Borrowing Constraints and Financial Integration - A Discussion of Ambiguous Results," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113165, Verein für Socialpolitik / German Economic Association.

  27. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," Levine's Working Paper Archive 786969000000000293, David K. Levine.

    Cited by:

    1. Jenny Tang, 2013. "Uncertainty and the signaling channel of monetary policy," Working Papers 15-8, Federal Reserve Bank of Boston.
    2. Ricardo T. Fernholz, 2015. "Exchange Rate Manipulation And Constructive Ambiguity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(4), pages 1323-1348, November.
    3. Wataru Tamura, 2016. "Optimal Monetary Policy and Transparency under Informational Frictions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(6), pages 1293-1314, September.
    4. Alexandre Kohlhas, 2015. "Learning-by-Sharing: Monetary Policy and the Information Content of Public Signals," 2015 Meeting Papers 57, Society for Economic Dynamics.
    5. Catilina, Eliane, 2019. "Information Acquisition with Endogenously Determined Cost in Cournot Markets with Stochastic Demand," MPRA Paper 93896, University Library of Munich, Germany.
    6. Michael Rousakis, 2013. "Expectations and Fluctuations: The Role of Monetary Policy," 2013 Meeting Papers 681, Society for Economic Dynamics.
    7. Bergemann, Dirk & Heumann, Tibor & Morris, Stephen, 2015. "Information and volatility," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 427-465.
    8. Myatt, David P. & Wallace, Chris, 2014. "Central bank communication design in a Lucas-Phelps economy," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 64-79.
    9. Gaetano Gaballo, 2016. "Rational Inattention to News: The Perils of Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(1), pages 42-97, January.
    10. Myatt, David P. & Wallace, Chris, 2015. "Cournot competition and the social value of information," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 466-506.
    11. Luca Colombo & Gianluca Femminis & Alessandro Pavan, 2012. "Information Acquisition and Welfare," Discussion Papers 1554, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

  28. George-Marios Angeletos & Jennifer La'O, 2011. "Decentralization, Communication, and the Origins of Fluctuations," Levine's Working Paper Archive 786969000000000111, David K. Levine.

    Cited by:

    1. Marta Areosa. Waldyr Areosa, 2012. "Asset Prices and Monetary Policy – A sticky-dispersed information model," Working Papers Series 285, Central Bank of Brazil, Research Department.
    2. Giacomo Rondina & Todd Walker, 2016. "Learning and Informational Stability of Dynamic REE with Incomplete Information," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 147-159, July.
    3. Nakov, Anton & Nuño, Galo, 2015. "Learning from experience in the stock market," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 224-239.
    4. Cosmin Ilut & Martin Schneider, 2012. "Ambiguous Business Cycles," NBER Working Papers 17900, National Bureau of Economic Research, Inc.
    5. George-Marios Angeletos & Jennifer La'O, 2011. "Optimal Monetary Policy with Informational Frictions," NBER Working Papers 17525, National Bureau of Economic Research, Inc.
    6. Leonardo Melosi & Francesco Bianchi, 2012. "Inflationary Sentiments and Monetary Policy Communcation," 2012 Meeting Papers 893, Society for Economic Dynamics.

  29. George-Marios Angeletos & Jennifer La'O, 2011. "Optimal Monetary Policy with Informational Frictions," NBER Working Papers 17525, National Bureau of Economic Research, Inc.

    Cited by:

    1. Joshua Bernstein & Rupal Kamdar, 2023. "Rationally Inattentive Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 265-296, April.
    2. Saleem Bahaj & Angus Foulis, 2016. "Macroprudential policy under uncertainty," Bank of England Staff Working Paper series 584, Bank of England.
    3. Xu, Zhihao & Yu, Changhua, 2025. "Optimal monetary policy in production networks with distortions," Journal of Economic Theory, Elsevier, vol. 225(C).
    4. Nam, Deokwoo & Wang, Jian, 2015. "The effects of surprise and anticipated technology changes on international relative prices and trade," Journal of International Economics, Elsevier, vol. 97(1), pages 162-177.
    5. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.
    6. Marta Areosa. Waldyr Areosa, 2012. "Asset Prices and Monetary Policy – A sticky-dispersed information model," Working Papers Series 285, Central Bank of Brazil, Research Department.
    7. Pavan, Alessandro, 2025. "Attention, coordination, and bounded recall," Journal of Economic Theory, Elsevier, vol. 227(C).
    8. V. V. Chari & Luis Pérez, 2021. "Comment on Iovino, La’O and Mascarenhas, “Optimal Monetary Policy and Disclosure with an Informationally-Constrained Central Banker”," Staff Report 628, Federal Reserve Bank of Minneapolis.
    9. Tarashev, Nikola & Zabai, Anna, 2019. "When pegging is a commitment device: Revisiting conventional wisdom about currency crises," Journal of International Economics, Elsevier, vol. 118(C), pages 233-247.
    10. Giuseppe Ferrero & Marcello Miccoli & Sergio Santoro, 2014. "Informational Effects of Monetary Policy," Temi di discussione (Economic working papers) 982, Bank of Italy, Economic Research and International Relations Area.
    11. Camille Cornand & Rodolphe Dos Santos Ferreira, 2021. "Central bank's stabilization and communication policies when firms have motivated overconfidence in their own information accuracy or processing," Working Papers of BETA 2021-49, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    12. Qu, Lijuan, 2026. "Incomplete information, strategic uncertainty and optimal monetary policy," Economics Letters, Elsevier, vol. 259(C).
    13. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    14. Pellet, Thomas & Tahbaz-Salehi, Alireza, 2023. "Rigid production networks," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 86-102.
    15. Chengcheng Jia, 2025. "Forward Guidance under Imperfect Information," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(7), pages 1765-1791, October.
    16. Lundtofte, Frederik & Leoni, Patrick, 2014. "Growth forecasts, belief manipulation and capital markets," European Economic Review, Elsevier, vol. 70(C), pages 108-125.
    17. Joel M. David & David Zeke, 2021. "Risk-Taking, Capital Allocation and Optimal Monetary Policy," Working Paper Series WP-2021-01, Federal Reserve Bank of Chicago.
    18. Femminis, Gianluca & Piccirilli, Giulio, 2023. "Optimal policy with dispersed information and uncertain monetary transmission," Economics Letters, Elsevier, vol. 229(C).
    19. Ding, Qiushuo & Luo, Yulei & Wang, Gaowang, 2026. "Optimal Monetary Policy with Confounding Information," MPRA Paper 128146, University Library of Munich, Germany.
    20. Ou, Shengliang & Zhang, Donghai & Zhang, Renbin, 2021. "Information frictions, monetary policy, and the paradox of price flexibility," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 70-82.
    21. Nikola Tarashev & Anna Zabai, 2016. "When pegging ties your hands," BIS Working Papers 547, Bank for International Settlements.
    22. Phurichai Rungcharoenkitkul & Fabian Winkler, 2021. "The natural rate of interest through a hall of mirrors," BIS Working Papers 974, Bank for International Settlements.
    23. Lu, Dong & Qian, Xingwang & Zhu, Wenyu, 2024. "External debt currency denomination and the currency composition of foreign exchange reserves," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    24. Camille Cornand & Rodolphe dos Santos Ferreira, 2025. "Central bank's communication and stabilization policies under firms'motivated beliefs," Post-Print hal-04808798, HAL.
    25. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    26. Jan Filacek & Jakub Mateju, 2014. "Adverse Effects of Monetary Policy Signalling," Working Papers 2014/13, Czech National Bank, Research and Statistics Department.
    27. Hellwig, Christian & Venkateswaran, Venky, 2025. "Dispersed information, nominal rigidities and monetary business cycles: A Hayekian perspective," Journal of Monetary Economics, Elsevier, vol. 155(S).
    28. Femminis, Gianluca & Piccirilli, Giulio, 2021. "Efficient information acquisition with heterogeneous agents," Economics Letters, Elsevier, vol. 207(C).
    29. Iovino, Luigi & La’O, Jennifer & Mascarenhas, Rui, 2022. "Optimal monetary policy and disclosure with an informationally-constrained central banker," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 151-172.
    30. Boeck, Maximilian & Feldkircher, Martin, 2021. "The Impact of Monetary Policy on Yield Curve Expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 887-901.
    31. Jia, Chengcheng, 2023. "The informational effect of monetary policy and the case for policy commitment," European Economic Review, Elsevier, vol. 156(C).
    32. Citanna, A. & Tvede, M., 2024. "Do taxspots matter?," Journal of Economic Theory, Elsevier, vol. 220(C).
    33. Antoine Camous & Dmitry Matveev, 2025. "Monetary Communication and Credibility in a Multi-Sector Economy," Working papers 1013, Banque de France.
    34. Luo, Yulei & Qu, Lijuan & Wang, Gaowang, 2026. "Optimal Monetary Policy under Rational Inattention and a Cost Channel," MPRA Paper 128958, University Library of Munich, Germany.
    35. Michał Brzoza-Brzezina & Jacek Suda, 2021. "Are DSGE models irreparably flawed?," Bank i Kredyt, Narodowy Bank Polski, vol. 52(3), pages 227-252.
    36. Lance Kent, 2015. "Relaxing Rational Expectations," Working Papers 159, Economics Department, William & Mary.
    37. Meyer-Gohde, Alexander & Tzaawa-Krenzler, Mary, 2023. "Sticky information and the Taylor principle," IMFS Working Paper Series 189, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    38. Luca Colombo & Gianluca Femminis & Alessandro Pavan, 2023. "Subsidies to Technology Adoption when Firms'Information is Endogenous," DISCE - Working Papers del Dipartimento di Economia e Finanza def125, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

  30. George-Marios Angeletos & Vasia Panousi, 2010. "Financial integration, entrepreneurial risk and global dynamics," Finance and Economics Discussion Series 2010-54, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Madalina Anghel & Aurel Diaconu & Marius Popovici, 2016. "Theoretical considerations regarding risk analysis models," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(9), pages 64-72, September.
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    5. Coeurdacier, Nicolas & Guibaud, Stéphane & Jin, Keyu, 2015. "Credit constraints and growth in a global economy," LSE Research Online Documents on Economics 62016, London School of Economics and Political Science, LSE Library.
    6. Jurgen von Hagen & Haiping Zhang, 2011. "International Capital Flows with Limited Commitment and Incomplete Markets," Working Papers 17-2011, Singapore Management University, School of Economics.
    7. Zhiwei XU & Yi Wen & pengfei Wang, 2013. "Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach," 2013 Meeting Papers 406, Society for Economic Dynamics.
    8. Wang, Xun, 2022. "Financial liberalization and the investment-cash flow sensitivity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    9. Gianluca Benigno & Luca Fornaro & Martin Wolf, 2012. "Reserve accumulation, growth and financial crises," Economics Working Papers 1795, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2022.
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    11. Sara Eugeni, 2013. "An OLG model of global imbalances," Discussion Papers 13/05, Department of Economics, University of York.
    12. Karine Gente & Miguel A. León-Ledesma & Carine Nourry, 2013. "External Constraints and Endogenous Growth: Why Didn’t Some Countries Benefit From Capital Flows?," Studies in Economics 1304, School of Economics, University of Kent.
    13. Marina Azzimonti & Vincenzo Quadrini, 2012. "Financial globalization, inequality, and the raising of public debt," Working Papers 12-6, Federal Reserve Bank of Philadelphia.
    14. von Hagen, Jürgen & Zhang, Haiping, 2014. "Financial development, international capital flows, and aggregate output," Journal of Development Economics, Elsevier, vol. 106(C), pages 66-77.
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    16. Ning Zhang, 2017. "Two-way capital flows: A risk-sharing approach," Working Papers 2019_09, Business School - Economics, University of Glasgow.
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    19. Karl Farmer, 2016. "The Intertemporal Equilibrium Modeling of Intra-EMU and Global Trade Imbalances," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(4), pages 377-395, November.
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    21. Toda, Alexis Akira, 2014. "Incomplete market dynamics and cross-sectional distributions," Journal of Economic Theory, Elsevier, vol. 154(C), pages 310-348.
    22. Antonio Rodriguez-Lopez, 2016. "Liquidity and the International Allocation of Economic Activity," CESifo Working Paper Series 6286, CESifo.
    23. Dokko, Jane K. & Keys, Benjamin J. & Relihan, Lindsay, 2019. "Affordability, financial innovation and the start of the housing boom," LSE Research Online Documents on Economics 101017, London School of Economics and Political Science, LSE Library.
    24. Ana Fostel & John Geanakoplos & Gregory Phelan, 2017. "Global Collateral: How Financial Innovation Drives Capital Flows and Increases Financial Instability," Cowles Foundation Discussion Papers 2076, Cowles Foundation for Research in Economics, Yale University.
    25. Cacciatore, Matteo & Ghironi, Fabio & Stebunovs, Viktors, 2015. "The domestic and international effects of interstate U.S. banking," Journal of International Economics, Elsevier, vol. 95(2), pages 171-187.
    26. Mika Nieminen, 2017. "Patterns of international capital flows and their implications for developing countries," WIDER Working Paper Series wp-2017-171, World Institute for Development Economic Research (UNU-WIDER).
    27. Pierre-Olivier Gourinchas & Hélène Rey, 2013. "External Adjustment, Global Imbalances and Valuation Effects," NBER Working Papers 19240, National Bureau of Economic Research, Inc.
    28. Gourinchas, Pierre-Olivier & Rey, Helene, 2014. "External Adjustment, Global Imbalances, Valuation Effects," Department of Economics, Working Paper Series qt2k77x6tn, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    29. Lei, Xiaowen, 2019. "Information and Inequality," Journal of Economic Theory, Elsevier, vol. 184(C).
    30. Hakan Yilmazkuday, 2021. "Accounting for Trade Deficits," Working Papers 2107, Florida International University, Department of Economics.
    31. Bruton, Garry & Sutter, Christopher & Lenz, Anna-Katharina, 2021. "Economic inequality – Is entrepreneurship the cause or the solution? A review and research agenda for emerging economies," Journal of Business Venturing, Elsevier, vol. 36(3).
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    34. Fernholz, Ricardo T., 2016. "A Model of economic mobility and the distribution of wealth," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 168-192.
    35. Zsofia Barany & Nicolas Coeurdacier & Stéphane Guibaud, 2015. "Fertility, Longevity and International Capital Flows," Sciences Po Economics Publications (main) hal-01164462, HAL.
    36. David Moreno, 2018. "Institutional Quality and Sovereign Flows," Working Papers Central Bank of Chile 816, Central Bank of Chile.
    37. Tan, Zhibo & Yao, Yang & Wei, Shang-Jin, 2015. "Financial structure, corporate savings and current account imbalances," Journal of International Money and Finance, Elsevier, vol. 54(C), pages 142-167.
    38. Damiano Sandri, 2014. "Growth and Capital Flows with Risky Entrepreneurship," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 102-123, July.
    39. YiLi Chien & Kanda Naknoi, 2011. "The Risk Premium and Long-Run Global Imbalances," Purdue University Economics Working Papers 1266, Purdue University, Department of Economics.
    40. Benhima, Kenza, 2013. "A reappraisal of the allocation puzzle through the portfolio approach," Journal of International Economics, Elsevier, vol. 89(2), pages 331-346.
    41. Zhang, Ning, 2019. "Country portfolios under global imbalances," European Economic Review, Elsevier, vol. 119(C), pages 302-317.
    42. Francisco J. Buera & Yongseok Shin, 2017. "Productivity Growth and Capital Flows: The Dynamics of Reforms," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(3), pages 147-185, July.
    43. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-47, Board of Governors of the Federal Reserve System (U.S.).
    44. Minsoo Han, 2013. "Capital Account Openness and the Losses from Financial Frictions," 2013 Meeting Papers 485, Society for Economic Dynamics.
    45. Wai‐Hong Ho, 2022. "Financial Market Globalization, Deglobalization Policies and Growth," Economica, London School of Economics and Political Science, vol. 89(356), pages 1024-1049, October.
    46. Jürgen von Hagen & Haiping Zhang, 2014. "International Capital Flows in the Model with Limited Commitment and Incomplete Markets," Open Economies Review, Springer, vol. 25(1), pages 195-224, February.
    47. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-31, Board of Governors of the Federal Reserve System (U.S.).
    48. Phelan, Gregory & Toda, Alexis Akira, 2019. "Securitized markets, international capital flows, and global welfare," Journal of Financial Economics, Elsevier, vol. 131(3), pages 571-592.
    49. Ning Zhang, 2017. "Country portfolios with habit persistence," Working Papers 2019_10, Business School - Economics, University of Glasgow.
    50. Corbae, Dean & Marimon, Ramon, 2011. "Introduction to Incompleteness and Uncertainty in Economics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 775-784, May.
    51. Flavia Corneli, 2021. "Financial Integration Without Financial Development," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(2), pages 201-220, June.
    52. Enrique G. Mendoza & Vincenzo Quadrini, "undated". "Unstable Prosperity:How Globalization Made the World Economy More Volatile," PIER Working Paper Archive 23-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    53. Zheng (Michael) Song & Guiying (Laura) Wu, 2013. "A Structural Estimation on Capital Market Distortions in Chinese Manufacturing," Economic Growth Centre Working Paper Series 1306, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    54. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    55. Nicolas Coeurdacier, 2016. "Fertility, Longevity, and Capital Flows," 2016 Meeting Papers 442, Society for Economic Dynamics.
    56. Kikuchi, Tomoo & Stachurski, John & Vachadze, George, 2018. "Volatile capital flows and financial integration: The role of moral hazard," Journal of Economic Theory, Elsevier, vol. 176(C), pages 170-192.
    57. Jurgen von Hagen & Haiping Zhang, 2011. "International Capital Flows and Aggregate Output," Working Papers 20-2011, Singapore Management University, School of Economics.
    58. Flavia Corneli, 2017. "Medium and long term implications of financial integration without financial development," Temi di discussione (Economic working papers) 1120, Bank of Italy, Economic Research and International Relations Area.
    59. Shengxing Zhang & Keyu Jin, 2015. "Asset prices and creation in a global economy," 2015 Meeting Papers 1253, Society for Economic Dynamics.
    60. Wulff, Alexander & Heinemann, Maik, 2015. "Idiosyncratic Risk, Borrowing Constraints and Financial Integration - A Discussion of Ambiguous Results," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113165, Verein für Socialpolitik / German Economic Association.

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    1. Ho-Chuan (River) Huang & Stephen M. Miller, 2012. "Banking Market Structure, Liquidity Needs, and Industrial Growth Volatility," Working Papers 1206, University of Nevada, Las Vegas , Department of Economics.
    2. Philippe Bacchetta & Kenza Benhima & Céline Poilly, 2014. "Corporate Cash and Employment," Cahiers de Recherches Economiques du Département d'économie 14.09, Université de Lausanne, Faculté des HEC, Département d’économie.
    3. Bartz, Wiebke & Winkler, Adalbert, 2016. "Flexible or fragile? The growth performance of small and young businesses during the global financial crisis — Evidence from Germany," Journal of Business Venturing, Elsevier, vol. 31(2), pages 196-215.
    4. Chetan Ghate & Radhika Pandey & Ila Patnaik, 2011. "Has India emerged? Business cycle stylized facts from a transitioning economy," Discussion Papers 11-05, Indian Statistical Institute, Delhi.
    5. Alberto Bucci & Simone Marsiglio, 2019. "Financial development and economic growth: long‐run equilibrium and transitional dynamics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(3), pages 331-359, July.
    6. Kafka, Kyriaki I. & Kostis, Pantelis C., 2024. "Unravelling the innovation puzzle: The interplay between uncertainty, economic institutions, and innovation performance in advanced and developing economies," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    7. Varelas Erotokritos, 2015. "Quantity versus Price Bank Competition and Macroeconomic Performance Given Bank Concentration," Review of Economics, De Gruyter, vol. 66(3), pages 251-271, December.
    8. Filippo Di Mauro & Fadi Hassan & Gianmarco I. P. Ottaviano, 2018. "Financial markets and the allocation of capital: the role of productivity," CEP Discussion Papers dp1555, Centre for Economic Performance, LSE.
    9. Ren, Si-Tao & Wei, Wei & Zhang, Jun-Wei & Yang, Sheng-Hao, 2025. "Macroprudential policy, financial risk and innovation: Cross country evidence," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    10. Bacchetta, Philippe & Benhima, Kenza, 2012. "The Demand for Liquid Assets, Corporate Saving, and Global Imbalances," CEPR Discussion Papers 9268, Centre for Economic Policy Research.
    11. Pietro Grandi & Jean Belin & Elisa Darriet & Marianne Guille, 2024. "SMEs, R &D financing, and credit shocks," Small Business Economics, Springer, vol. 63(1), pages 325-347, June.
    12. Ghiglino, Christian & Tabasso, Nicole, 2016. "Risk aversion in a model of endogenous growth," Journal of Mathematical Economics, Elsevier, vol. 64(C), pages 30-40.
    13. Mattia Guerini & Giovanni Marin & Francesco Vona, 2025. "Easing Financial Constraints Reduce Carbon Emissions? Evidence from a Large Sample of French Companies," Working Papers 2025.31, Fondazione Eni Enrico Mattei.
    14. Sanjay Singh, 2018. "Output Hysteresis and Optimal Monetary Policy," 2018 Meeting Papers 554, Society for Economic Dynamics.
    15. Wilfried A Kouamé & J.-A Tapsoba, 2018. "Structural Reforms and Firms’ Productivity: Evidence from Developing Countries," Post-Print hal-01723100, HAL.
    16. Benigno, Gianluca & Fornaro, Luca, 2016. "Stagnation Traps," CEPR Discussion Papers 11074, Centre for Economic Policy Research.
    17. Boubakri, Narjess & Saffar, Walid, 2016. "Culture and externally financed firm growth," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 502-520.
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    19. Wang, Xiaoqiong & Zhu, Xiaoyang, 2025. "Fading virtue, flourishing profits: Corporate social responsibility in the presence of competitor constraints," Journal of Corporate Finance, Elsevier, vol. 91(C).
    20. Tom Schmitz, 2016. "Endogenous Growth, Firm Heterogeneity and the Long-run Impact of Financial Crises," 2016 Meeting Papers 609, Society for Economic Dynamics.
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    22. Lage de Sousa, Filipe & Ottaviano, Gianmarco I. P., 2017. "Relaxing credit constraints in emerging economies: the impact of public loans on the productivity of Brazilian manufacturers," LSE Research Online Documents on Economics 86923, London School of Economics and Political Science, LSE Library.
    23. Isabel Busom & Jorge Vélez-Ospina, 2020. "Subsidising Innovation over the Business Cycle," SPRU Working Paper Series 2020-09, SPRU - Science Policy Research Unit, University of Sussex Business School.
    24. Ceyhun Elgin & Burak R. Uras, 2012. "Public Debt, Sovereign Default Risk and Shadow Economy," Working Papers 2012/10, Bogazici University, Department of Economics.
    25. Emanuele Brancati & Raoul Minetti & Susan Chun Zhu, 2026. "Financial Shocks and Firm Innovation in Supply Chain Networks," Management Science, INFORMS, vol. 72(6), pages 4715-4736, June.
    26. Sunaga, Miho, 2017. "Endogenous growth cycles with financial intermediaries and entrepreneurial innovation," Journal of Macroeconomics, Elsevier, vol. 53(C), pages 191-206.
    27. Oscar Valencia & Daniel Osorio & Pablo Garay, 2017. "The role of capital requirements and credit composition in the transmission of macroeconomic and financial shocks," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 35(84), pages 203-221.
    28. Jürgen Janger & Werner Hölzl & Serguei Kaniovski & Johannes Kutsam & Michael Peneder & Andreas Reinstaller & Susanne Bärenthaler-Sieber & Isabel Stadler & Fabian Unterlass, 2011. "Structural Change and the Competitiveness of EU Member States," WIFO Studies, WIFO, number 42956.
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    41. Caterina Mendicino, 2012. "Collateral Requirements: Macroeconomic Fluctuations and Macro-Prudential Policy," Working Papers w201211, Banco de Portugal, Economics and Research Department.
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    44. Leilei Shen, 2017. "Global sourcing and credit constraints," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(3), pages 778-803, August.
    45. Graziella Bonanno & Annalisa Ferrando & Stefania Patrizia Sonia Rossi, 2023. "Do innovation and financial constraints affect the profit efficiency of European enterprises?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(1), pages 57-86, March.
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    48. Ms. Juliana Dutra Araujo & Mr. Antonio David & Carlos van Hombeeck & Mr. Chris Papageorgiou, 2015. "Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries," IMF Working Papers 2015/163, International Monetary Fund.
    49. Demirguc-Kunt,Asli & Horvath,Balint Laszlo & Huizinga,Harry P., 2016. "How does long-term finance affect economic volatility ?," Policy Research Working Paper Series 7535, The World Bank.
    50. Agustin Roitman & Christian Daude, 2011. "Imperfect Information and Saving in a Small Open Economy," IMF Working Papers 2011/060, International Monetary Fund.
    51. Yılmaz, Oğuzhan, 2024. "Financial development and declining growth volatility: Explanations and an empirical study with the latest FD index," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 457-470.
    52. Huiwen Lai & Keith E. Maskus & Lei Yang, 2018. "Intellectual Property Enforcement, Exports and Productivity: Evidence from China," RSCAS Working Papers 2018/39, European University Institute.
    53. Şen, Hüseyin & Kaya, Ayşe, 2021. "Output-volatility reducing effects of automatic stabilizers: Policy implications for EMU member states," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1388-1414.
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    56. Witness Nyasha Bandura & Canicio Dzingirai, 2019. "Financial Development and Economic Growth in Sub-Saharan Africa: The Role of Institutions," PSL Quarterly Review, Economia civile, vol. 72(291), pages 315-334.
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    61. Degryse, Hans & De Haas, Ralph & Beck, Thorsten & van Horen, Neeltje, 2014. "When Arm?s Length Is Too Far. Relationship Banking over the Business Cycle," CEPR Discussion Papers 10050, Centre for Economic Policy Research.
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    65. Dongwon Lee, 2022. "Commodity terms of trade volatility and industry growth," Working Papers 202216, University of California at Riverside, Department of Economics.
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    68. Uras, Burak, 2019. "Unbundling financial imperfections : Lending frictions vs. trading frictions," Other publications TiSEM d0a0e84b-93e2-4cbb-bfd5-b, Tilburg University, School of Economics and Management.
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    10. Benhabib, Jess & Liu, Xuewen & Wang, Pengfei, 2016. "Endogenous information acquisition and countercyclical uncertainty," Journal of Economic Theory, Elsevier, vol. 165(C), pages 601-642.
    11. Elias Albagli & Christian Hellwig & Aleh Tsyvinski, 2011. "Information Aggregation, Investment, and Managerial Incentives," Cowles Foundation Discussion Papers 1816, Cowles Foundation for Research in Economics, Yale University.
    12. Lorenzo Esposito & Giuseppe Mastromatteo, 2020. "In the Long Run We Are All Herd: On the Nature and Outcomes of the Beauty Contest," Economics Working Paper Archive wp_972, Levy Economics Institute.
    13. Attila Ambrus & Aaron Kolb, 2021. "On defining ex ante payoffs in games with diffuse prior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(2), pages 445-472, September.
    14. Laura Veldkamp & Pablo Kurlat, 2011. "De-regulating Markets for Financial Information," 2011 Meeting Papers 1269, Society for Economic Dynamics.
    15. Tille, Cédric & van Wincoop, Eric, 2014. "Solving DSGE portfolio choice models with dispersed private information," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 1-24.
    16. Baek, Seungjun, 2022. "Information acquisition and asset price volatility," Finance Research Letters, Elsevier, vol. 46(PA).
    17. Wang, Bo & Hu, Tiantian & Zheng, Suli, 2023. "Earning inflation, real investment and self-fulfilling uncertainty," Finance Research Letters, Elsevier, vol. 58(PC).
    18. Luís Santos‐Pinto & Michele Dell'Era, 2017. "Entrepreneurial Optimism And The Market For New Issues," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(2), pages 383-419, May.
    19. Benhabib, Jess & Wang, Pengfei, 2015. "Private information and sunspots in sequential asset markets," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 558-584.
    20. Benhabib, Jess & Liu, Xuewen & Wang, Pengfei, 2016. "Sentiments, financial markets, and macroeconomic fluctuations," Journal of Financial Economics, Elsevier, vol. 120(2), pages 420-443.
    21. Gilles Chemla & Katrin Tinn, 2020. "Learning Through Crowdfunding," Management Science, INFORMS, vol. 66(5), pages 1783-1801, May.
    22. Goldstein, Itay & Ozdenoren, Emre & Yuan, Kathy, 2013. "Trading frenzies and their impact on real investment," Journal of Financial Economics, Elsevier, vol. 109(2), pages 566-582.
    23. Nagel, Rosemarie & Bühren, Christoph & Frank, Björn, 2017. "Inspired and inspiring: Hervé Moulin and the discovery of the beauty contest game," Mathematical Social Sciences, Elsevier, vol. 90(C), pages 191-207.
    24. Daniel José Aromí, 2016. "Conventional Views and Asset Prices: What to Expect After Times of Extreme Opinions?," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2016-15, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    25. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
    26. Laura Veldkamp & Maryam Farboodi, 2016. "The Long-Run Evolution of the Financial Sector," 2016 Meeting Papers 530, Society for Economic Dynamics.
    27. Marcus Giamattei & Johann Lambsdorff, 2015. "Balancing the current account: experimental evidence on underconsumption," Experimental Economics, Springer;Economic Science Association, vol. 18(4), pages 670-696, December.
    28. Gaetano Gaballo, 2017. "Price Dispersion, Private Uncertainty, and Endogenous Nominal Rigidities," Working papers 653, Banque de France.
    29. Michael Sockin & Wei Xiong, 2013. "Informational Frictions and Commodity Markets," NBER Working Papers 18906, National Bureau of Economic Research, Inc.
    30. Tinn, K & Vourvachaki, E, 2012. "Can overpricing of technology stocks be good for welfare? Positive spillovers vs. equity market losses," Working Papers 12192, Imperial College, London, Imperial College Business School.
    31. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    32. Kurlat, Pablo & Veldkamp, Laura, 2015. "Should we regulate financial information?," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 697-720.
    33. Avanidhar Subrahmanyam & Sheridan Titman, 2013. "Financial Market Shocks and the Macroeconomy," NBER Working Papers 19383, National Bureau of Economic Research, Inc.
    34. Christian Myohl & Yannic Stucki, 2018. "Confidence and the Financial Accelerator," Diskussionsschriften dp1823, Universitaet Bern, Departement Volkswirtschaft.
    35. M. Hashem Pesaran, 2010. "Predictability of Asset Returns and the Efficient Market Hypothesis," CESifo Working Paper Series 3116, CESifo.
    36. Boleslavsky, Raphael & Kelly, David L. & Taylor, Curtis R., 2017. "Selloffs, bailouts, and feedback: Can asset markets inform policy?," Journal of Economic Theory, Elsevier, vol. 169(C), pages 294-343.

  33. Jennifer La'O & George-Marios Angeletos, 2009. "Dispersed Information over the Business Cycle: Optimal Fiscal and Monetary Policy," 2009 Meeting Papers 221, Society for Economic Dynamics.

    Cited by:

    1. Benhima, Kenza, 2019. "Booms and busts with dispersed information," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 32-47.
    2. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," NBER Working Papers 17229, National Bureau of Economic Research, Inc.
    3. Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2015. "The Social Value of Information in a Business-Cycle Model," 2015 Meeting Papers 1299, Society for Economic Dynamics.
    4. Paciello, Luigi, 2009. "Monetary Policy Activism and Price Responsiveness to Aggregate Shocks under Rational Inattention," MPRA Paper 16407, University Library of Munich, Germany.
    5. George-Marios Angeletos & Jennifer La'O, 2009. "Incomplete Information, Higher-Order Beliefs and Price Inertia," NBER Working Papers 15003, National Bureau of Economic Research, Inc.

  34. George-Marios Angeletos & Jennifer La'O, 2009. "Noisy Business Cycles," NBER Working Papers 14982, National Bureau of Economic Research, Inc.

    Cited by:

    1. Brianti, Marco & Cormun, Vito, 2024. "Expectation-driven boom-bust cycles," Journal of Monetary Economics, Elsevier, vol. 146(C).
    2. Angeletos, George-Marios & La’O, Jennifer, 2009. "Incomplete information, higher-order beliefs and price inertia," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 19-37.
    3. Benhima, Kenza, 2019. "Booms and busts with dispersed information," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 32-47.
    4. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," NBER Working Papers 17229, National Bureau of Economic Research, Inc.
    5. Graham, Liam & Wright, Stephen, 2010. "Information, heterogeneity and market incompleteness," Journal of Monetary Economics, Elsevier, vol. 57(2), pages 164-174, March.
    6. Guimaraes, Bernardo, 2015. "Demand expectations and the timing of stimulus policies," LSE Research Online Documents on Economics 86322, London School of Economics and Political Science, LSE Library.
    7. Ernesto Pasten, 2012. "Rational Inattention, Multi-Product Firms and the Neutrality of Money," 2012 Meeting Papers 346, Society for Economic Dynamics.
    8. Darmouni, Olivier & Sutherland, Andrew, 2018. "Learning about Competitors: Evidence from SME Lending," MPRA Paper 93668, University Library of Munich, Germany.
    9. Rondina, Giacomo & Walker, Todd B., 2021. "Confounding dynamics," Journal of Economic Theory, Elsevier, vol. 196(C).
    10. Rousakis, Michael, 2012. "Expectations and Fluctuations : The Role of Monetary Policy," The Warwick Economics Research Paper Series (TWERPS) 984, University of Warwick, Department of Economics.
    11. Giacomo Rondina & Todd Walker, 2016. "Learning and Informational Stability of Dynamic REE with Incomplete Information," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 147-159, July.
    12. Ilut, Cosmin & Saijo, Hikaru, 2021. "Learning, confidence, and business cycles," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 354-376.
    13. Rousakis, Michael, "undated". "Expectations and Fluctuations: The Role of Monetary Policy," Economic Research Papers 270655, University of Warwick - Department of Economics.
    14. Sushant Acharya & Jess Benhabib & Zhen Huo, 2021. "The Anatomy of Sentiment-Driven Fluctuations," Staff Working Papers 21-33, Bank of Canada.
    15. Lippi, Marco & Forni, Mario & Sala, Luca & Gambetti, Luca, 2013. "Noise Bubbles," CEPR Discussion Papers 9532, Centre for Economic Policy Research.
      • Mario Forni & Luca Gambetti & Marco Lippi & Luca Sala, 2014. "Noise Bubbles," Working Papers 532, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
      • Mario Forni & Luca Gambetti & Marco Lippi & Luca Sala, 2017. "Noise Bubbles," Economic Journal, Royal Economic Society, vol. 127(604), pages 1940-1976, September.
      • Mario Forni & Luca Gambetti & Marco Lippi & Luca Sala, 2014. "Noise Bubbles," Center for Economic Research (RECent) 096, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    16. Luo, Yulei & Nie, Jun & Young, Eric R., 2014. "Robust control, informational frictions, and international consumption correlations," European Economic Review, Elsevier, vol. 67(C), pages 1-27.
    17. Zi-Yi Guo, 2017. "International Real Business Cycle Models with Incomplete Information," Proceedings of Economics and Finance Conferences 4507458, International Institute of Social and Economic Sciences.
    18. Bergemann, Dirk & Heumann, Tibor & Morris, Stephen, 2015. "Information and volatility," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 427-465.
    19. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    20. Vladimir Asriyan, 2015. "Balance Sheet Recessions with Informational and Trading Frictions," Working Papers 806, Barcelona School of Economics.
    21. Amberger, Korie, 2013. "The Role of Capital on Noise Shocks," MPRA Paper 46483, University Library of Munich, Germany.
    22. Mäkinen, Taneli & Ohl, Björn, 2015. "Information acquisition and learning from prices over the business cycle," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 585-633.
    23. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2010. "Beauty Contests and Irrational Exuberance: A Neoclassical Approach," Levine's Working Paper Archive 661465000000000237, David K. Levine.
    24. Li, Wei & Luo, Yulei & Nie, Jun, 2017. "Elastic attention, risk sharing, and international comovements," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 1-20.
    25. Luca Gambetti, 2014. "Noisy News in Business Cycles," 2014 Meeting Papers 1406, Society for Economic Dynamics.
    26. Guimaraes, Bernardo & Machado, Caio & Ribeiro, Marcel, 2014. "A model of the confidence channel of fiscal policy," LSE Research Online Documents on Economics 86331, London School of Economics and Political Science, LSE Library.
    27. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
    28. Alexandre Kohlhas, 2018. "Asymmetric Attention," 2018 Meeting Papers 1040, Society for Economic Dynamics.
    29. Nazaria Solferino, 2026. "An analytical model of Disequilibrium and decentralized productive Exploration," Papers 2604.00718, arXiv.org.
    30. Hoffmann, Mathias & Hürtgen, Patrick, 2016. "Inflation expectations, disagreement, and monetary policy," Economics Letters, Elsevier, vol. 146(C), pages 59-63.
    31. Andrew Williams, 2014. "The effect of transparency on output volatility," Economics of Governance, Springer, vol. 15(2), pages 101-129, May.
    32. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.
    33. Amélie Barbier-Gauchard & Carlos Berrout-Amezaga & Thierry Betti, 2026. "The Cost of Political Instability: Fiscal Noise and Economic Fluctuations," Working Papers of BETA 2026-10, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    34. Wang, Jiqian & Chen, Chuang & Dai, Xingyu, 2025. "News topic attention and crude oil price predictability," International Review of Financial Analysis, Elsevier, vol. 108(PA).
    35. F. Pancotto & G. Pignataro & D. Raggi, 2014. "Higher order beliefs and the dynamics of exchange rates," Working Papers wp957, Dipartimento Scienze Economiche, Universita' di Bologna.
    36. Joel P. Flynn & George Nikolakoudis & Karthik A. Sastry, 2026. "Pricing and Production Without the Invisible Hand," Cowles Foundation Discussion Papers 2501, Cowles Foundation for Research in Economics, Yale University.
    37. Flynn, Joel P. & Sastry, Karthik A., 2023. "Strategic mistakes," Journal of Economic Theory, Elsevier, vol. 212(C).
    38. George-Marios Angeletos & Jennifer La'O, 2011. "Decentralization, Communication, and the Origins of Fluctuations," Levine's Working Paper Archive 786969000000000111, David K. Levine.
    39. Tille, Cédric & van Wincoop, Eric, 2014. "Solving DSGE portfolio choice models with dispersed private information," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 1-24.
    40. Michael Rousakis, 2013. "Expectations and Fluctuations: The Role of Monetary Policy," 2013 Meeting Papers 681, Society for Economic Dynamics.
    41. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    42. Kyle Jurado, 2016. "Advance Information and Distorted Beliefs in Macroeconomic and Financial Fluctuations," 2016 Meeting Papers 154, Society for Economic Dynamics.
    43. Williams, Andrew, 2015. "A global index of information transparency and accountability," Journal of Comparative Economics, Elsevier, vol. 43(3), pages 804-824.
    44. Luo, Yulei & Nie, Jun & Young, Eric, 2015. "Robust Permanent Income in General Equilibrium," MPRA Paper 63985, University Library of Munich, Germany.
    45. Francesca Pancotto & Giuseppe Pignataro & Davide Raggi, 2015. "Social Learning and Higher Order Beliefs: A Structural Model of Exchange Rates Dynamics," LEM Papers Series 2015/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    46. Ryan Chahrour & Kristoffer Nimark & Stefan Pitschner, 2019. "Sectoral Media Focus and Aggregate Fluctuations," Boston College Working Papers in Economics 987, Boston College Department of Economics.
    47. George-Marios Angeletos & Chen Lian, 2016. "Forward Guidance without Common Knowledge," NBER Working Papers 22785, National Bureau of Economic Research, Inc.
    48. Hellwig, Christian & Venkateswaran, Venky, 2025. "Dispersed information, nominal rigidities and monetary business cycles: A Hayekian perspective," Journal of Monetary Economics, Elsevier, vol. 155(S).
    49. Caio Machado, 2024. "Coordinating in Financial Crises," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 54, October.
    50. Guangyu PEI, 2019. "Uncertainty, Pessimism and Economic Fluctuations," 2019 Meeting Papers 1494, Society for Economic Dynamics.
    51. Robbins, Jacob A., 2026. "Expectation traps and Neo-Fisherian policy," Journal of Economic Dynamics and Control, Elsevier, vol. 183(C).
    52. Mark Garmaise & Yaron Levi & Hanno Lustig, 2020. "Spending Less After (Seemingly) Bad News," NBER Working Papers 27010, National Bureau of Economic Research, Inc.
    53. Gondhi, Naveen, 2023. "Rational inattention, misallocation, and the aggregate economy," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 50-75.
    54. Jia, Chengcheng, 2023. "The informational effect of monetary policy and the case for policy commitment," European Economic Review, Elsevier, vol. 156(C).
    55. Rondina, Giacomo & Shim, Myungkyu, 2015. "Financial prices and information acquisition in large Cournot markets," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 769-786.
    56. Yulei Luo & Eric R. Young, 2014. "Signal Extraction And Rational Inattention," Economic Inquiry, Western Economic Association International, vol. 52(2), pages 811-829, April.
    57. Xu, Zhiwei & Zhou, Fei & Zhou, Jing, 2022. "Sentiments and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    58. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    59. Asriyan, Vladimir & Fuchs, William & Green, Brett, 2021. "Aggregation and design of information in asset markets with adverse selection," Journal of Economic Theory, Elsevier, vol. 191(C).
    60. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    61. Luo, Yulei & Nie, Jun & Young, Eric R., 2012. "Robustness, information–processing constraints, and the current account in small open economies," Journal of International Economics, Elsevier, vol. 88(1), pages 104-120.
    62. Ricardo J. Caballero & Alp Simsek, 2020. "Monetary Policy with Opinionated Markets," NBER Working Papers 27313, National Bureau of Economic Research, Inc.

  35. George-Marios Angeletos & Jennifer La'O, 2009. "Incomplete Information, Higher-Order Beliefs and Price Inertia," NBER Working Papers 15003, National Bureau of Economic Research, Inc.

    Cited by:

    1. Shintani, Mototsugu & Ueda, Kozo, 2023. "Identifying the source of information rigidities in the expectations formation process," Journal of Economic Dynamics and Control, Elsevier, vol. 150(C).
    2. George-Marios Angeletos, 2017. "Frictional Coordination," NBER Working Papers 24178, National Bureau of Economic Research, Inc.
    3. Crucini, Mario J. & Shintani, Mototsugu & Tsuruga, Takayuki, 2015. "Noisy information, distance and law of one price dynamics across US cities," Journal of Monetary Economics, Elsevier, vol. 74(C), pages 52-66.
    4. F. Alvarez & F. Lippi & L. Paciello, 2010. "Optimal price setting with observation and menu costs," 2010 Meeting Papers 478, Society for Economic Dynamics.
    5. Serafin Frache & Rodrigo Lluberas & Javier Turen, 2021. "Belief-Dependent Pricing Decisions," Documentos de Trabajo/Working Papers 2101, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..
    6. Kato, Ryo & Okuda, Tatsushi & Tsuruga, Takayuki, 2021. "Sectoral inflation persistence, market concentration, and imperfect common knowledge," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 500-517.
    7. Fernando Alvarez & Francesco Lippi & Luigi Paciello, 2015. "Phillips curves with observation and menu costs," EIEF Working Papers Series 1508, Einaudi Institute for Economics and Finance (EIEF), revised Jul 2015.
    8. J. Daniel Aromí & Martín Llada, 2024. "Are professional forecasters inattentive to public discussions? The case of inflation in Argentina," Working Papers 300, Red Nacional de Investigadores en Economía (RedNIE).
    9. Paritosh Chandra SINHA, 2022. "Attention economy and higher-order beliefs in voters’ online attention searches," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(630), S), pages 187-214, Spring.
    10. Cheick Kader M'Baye, 2012. "Inflation Targeting under Heterogeneous Information and Sticky Prices," Working Papers halshs-00677671, HAL.
    11. Benhima, Kenza & Poilly, Céline, 2020. "Does demand noise matter? Identification and implications," CEPR Discussion Papers 14365, Centre for Economic Policy Research.
    12. Guimaraes, Bernardo, 2015. "Demand expectations and the timing of stimulus policies," LSE Research Online Documents on Economics 86322, London School of Economics and Political Science, LSE Library.
    13. Cheick Kader M'baye, 2012. "Inflation Targeting under Heterogeneous Information and Sticky Prices," Working Papers 1202, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    14. Kristoffer P. Nimark, 2015. "Man-Bites-Dog Business Cycle," Working Papers 700, Barcelona School of Economics.
    15. Marta Areosa & Waldyr Areosa & Vinicius Carrasco, 2010. "A Sticky-Dispersed Information Phillips Curve: A model with partial and delayed information," Textos para discussão 565, Department of Economics PUC-Rio (Brazil).
    16. Ueda, Kozo, 2023. "Duopolistic competition and monetary policy," Journal of Monetary Economics, Elsevier, vol. 135(C), pages 70-85.
    17. Sophocles Mavroeidis & Mikkel Plagborg-M?ller & James H. Stock, 2014. "Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 124-188, March.
    18. Xavier Gabaix, 2016. "A Behavioral New Keynesian Model," NBER Working Papers 22954, National Bureau of Economic Research, Inc.
    19. Kieren, Pascal & König-Kersting, Christian & Schmidt, Robert & Trautmann, Stefan & Heinicke, Franziska, 2025. "First-order and higher-order inflation expectations: Evidence about Households and Firms," Journal of Economic Behavior & Organization, Elsevier, vol. 233(C).
    20. Tatsushi Okuda & Tomohiro Tsuruga & Francesco Zanetti, 2021. "Imperfect Information, Heterogeneous Demand Shocks, and Inflation Dynamics," Discussion Papers 2108, Centre for Macroeconomics (CFM).
    21. George-Marios Angeletos & Karthik Sastry, 2019. "Managing Expectations without Rational Expectations," 2019 Meeting Papers 1537, Society for Economic Dynamics.
    22. Mark Gertler, 2014. "Comment on "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination"," NBER Chapters, in: NBER Macroeconomics Annual 2014, Volume 29, pages 354-365, National Bureau of Economic Research, Inc.
    23. Amberger, Korie, 2013. "The Role of Capital on Noise Shocks," MPRA Paper 46483, University Library of Munich, Germany.
    24. Mäkinen, Taneli & Ohl, Björn, 2015. "Information acquisition and learning from prices over the business cycle," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 585-633.
    25. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    26. John Barrdear, 2014. "Peering into the mist: social learning over an opaque observation network," Bank of England Staff Working Paper series 503, Bank of England.
    27. George-Marios Angeletos & Karthik A. Sastry, 2018. "Managing Expectations: Instruments vs. Targets," NBER Working Papers 25404, National Bureau of Economic Research, Inc.
    28. John Barrdear, 2015. "Towards a New Keynesian theory of the price level," Bank of England Staff Working Paper series 532, Bank of England.
    29. Coibion, Olivier & Gorodnichenko, Yuriy & Kumar, Saten & Ryngaert, Jane, 2021. "Do You Know that I Know that You Know…? Higher-Order Beliefs in Survey Data," Department of Economics, Working Paper Series qt5cd1r3bd, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    30. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
    31. Mendel, Brock & Shleifer, Andrei, 2012. "Chasing noise," Journal of Financial Economics, Elsevier, vol. 104(2), pages 303-320.
    32. Ryo Kato & Tatsushi Okuda, 2017. "Market Concentration and Sectoral Inflation under Imperfect Common Knowledge," IMES Discussion Paper Series 17-E-11, Institute for Monetary and Economic Studies, Bank of Japan.
    33. Mark Gertler, 2015. "Comment," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 354-365.
    34. Leonardo Melosi, 2012. "Signaling effects of monetary policy," Working Paper Series WP-2012-05, Federal Reserve Bank of Chicago.
    35. Greg Kaplan & Sam Schulhofer-Wohl, 2016. "Inflation at the Household Level," Working Papers 731, Federal Reserve Bank of Minneapolis.
    36. Piotr Evdokimov & Umberto Garfagnini, 2022. "Higher-order learning," Experimental Economics, Springer;Economic Science Association, vol. 25(4), pages 1234-1266, September.
    37. David Rezza Baqaee, 2015. "Asymmetric Inflation Expectations, Downward Rigidity of Wages and Asymmetric Business Cycles," Discussion Papers 1601, Centre for Macroeconomics (CFM).
    38. Ou, Shengliang & Zhang, Donghai & Zhang, Renbin, 2021. "Information frictions, monetary policy, and the paradox of price flexibility," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 70-82.
    39. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 1-86, National Bureau of Economic Research, Inc.
    40. Manoj Atolia & Ryan Chahrour, 2013. "Intersectoral Linkages, Diverse Information, and Aggregate Dynamics," Boston College Working Papers in Economics 832, Boston College Department of Economics, revised 12 May 2015.
    41. Ryan Chahrour & Manoj Atolia, 2015. "Intersectoral Linkages, Diverse Information, and Aggregate Dynamics in a Neoclassical Model," 2015 Meeting Papers 398, Society for Economic Dynamics.
    42. Paul Levine & Joseph Pearlman & Alessio Volpicella & Bo Yang, 2022. "The Use and Mis-Use of SVARs for Validating DSGE Models," School of Economics Discussion Papers 0522, School of Economics, University of Surrey.
    43. Zaccaria, Niccolò, 2025. "Overconfidence and Information Aggregation," Discussion Paper 2025-004, Tilburg University, Center for Economic Research.
    44. Hellwig, Christian & Venkateswaran, Venky, 2025. "Dispersed information, nominal rigidities and monetary business cycles: A Hayekian perspective," Journal of Monetary Economics, Elsevier, vol. 155(S).
    45. Hager, Anselm & Kazakbaeva, Elnura & Hensel, Lukas & Esenaliev, Damir, 2025. "Mutual Knowledge of Social Norms and Political Behavior," IZA Discussion Papers 17748, IZA Network @ LISER.
    46. J. Daniel Aromí & Martín Llada, 2024. "Are professional forecasters inattentive to public discussions about inflation? The case of Argentina," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(7), pages 2572-2587, November.
    47. Olivier Coibion & Jane Ryngaert & Saten Kumar & Yuriy Gorodnichenko, 2019. "Do You Know That I Know That You Know?: Higher Order Beliefs in Survey Data," 2019 Meeting Papers 280, Society for Economic Dynamics.
    48. Kieren, Pascal & König-Kersting, Christian & Schmidt, Robert J. & Trautmann, Stefan T. & Theurich, Franziska, 2024. "First-order and higher-order inflation expectations: Evidence about households and firms," Discussion Papers 18/2024, Deutsche Bundesbank.
    49. Jia, Chengcheng, 2023. "The informational effect of monetary policy and the case for policy commitment," European Economic Review, Elsevier, vol. 156(C).
    50. Leonardo Melosi, 2011. "Public's Inflation Expectations and Monetary Policy," 2011 Meeting Papers 1151, Society for Economic Dynamics.
    51. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
    52. Paul Levine & Joseph Pearlman & Stephen Wright & Bo Yang, 2023. "Imperfect Information and Hidden Dynamics," School of Economics Discussion Papers 1223, School of Economics, University of Surrey.
    53. Diego Perez & Andres Drenik, 2015. "Price Setting Under Uncertainty About Inflation," 2015 Meeting Papers 1429, Society for Economic Dynamics.
    54. Zhang, Chengsi & Sun, Yuchen & Tang, Di, 2019. "Whose confidence matters in Chinese monetary policy?," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 188-202.
    55. Zhang, Chu & Zhao, Shen, 2023. "The macroeconomic announcement premium and information environment," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 55-73.
    56. Myatt, David P. & Wallace, Chris, 2014. "Central bank communication design in a Lucas-Phelps economy," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 64-79.
    57. Drenik, Andrés & Perez, Diego J., 2020. "Price setting under uncertainty about inflation," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 23-38.
    58. Pascal Kieren & Christian König-Kersting & Robert Schmidt & Stefan Trautmann & Franziska Heinicke, 2023. "First-Order and Higher-Order Inflation Expectations: Evidence about Households and Firms," Working Papers 2023-10, Faculty of Economics and Statistics, Universität Innsbruck.
    59. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    60. Hassan Afrouzi & Joel P. Flynn & Choongryul Yang, 2024. "What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?," Finance and Economics Discussion Series 2024-053, Board of Governors of the Federal Reserve System (U.S.).
    61. Lance Kent, 2015. "Relaxing Rational Expectations," Working Papers 159, Economics Department, William & Mary.

  36. George-Marios Angeletos, 2008. "Private Sunspots and Idiosyncratic Investor Sentiment," NBER Working Papers 14015, National Bureau of Economic Research, Inc.

    Cited by:

    1. Fehr, Dietmar & Heinemann, Frank & Llorente-Saguer, Aniol, 2017. "The Power of Sunspots: an Experimental Analysis," Rationality and Competition Discussion Paper Series 11, CRC TRR 190 Rationality and Competition.

  37. George-Marios Angeletos & Alessandro Pavan, 2008. "Policy with Dispersed Information," Carlo Alberto Notebooks 86, Collegio Carlo Alberto.

    Cited by:

    1. Xavier Vives, 2016. "Endogenous Public Information and Welfare in Market Games," 2016 Meeting Papers 413, Society for Economic Dynamics.
    2. Ding, Qiushuo & Luo, Yulei & Wang, Gaowang, 2026. "Optimal Monetary Policy with Confounding Information," MPRA Paper 128146, University Library of Munich, Germany.
    3. Shiyang Huang & Yan Xiong & Liyan Yang, 2022. "Skill Acquisition and Data Sales," Management Science, INFORMS, vol. 68(8), pages 6116-6144, August.
    4. Jennifer La'O & George-Marios Angeletos, 2009. "Dispersed Information over the Business Cycle: Optimal Fiscal and Monetary Policy," 2009 Meeting Papers 221, Society for Economic Dynamics.
    5. Mendel, Brock & Shleifer, Andrei, 2012. "Chasing Noise," Scholarly Articles 10859950, Harvard University Department of Economics.
    6. Xavier Vives, 2009. "Strategic Supply Function Competition with Private Information," CESifo Working Paper Series 2856, CESifo.
    7. Angeletos, George-Marios & La’O, Jennifer, 2009. "Incomplete information, higher-order beliefs and price inertia," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 19-37.
    8. Alonso, Ricardo & Zachariadis, Konstantinos E., 2024. "Persuading large investors," LSE Research Online Documents on Economics 126040, London School of Economics and Political Science, LSE Library.
    9. Alessandro Pavan, 2014. "Attention, Coordination, and Bounded Recall," Discussion Papers 1576, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    10. Manuel Amador & Pierre-Olivier Weill, 2008. "Learning from Prices: Public Communication and Welfare," NBER Working Papers 14255, National Bureau of Economic Research, Inc.
    11. Pooya Molavi & Ceyhun Eksin & Alejandro Ribeiro & Ali Jadbabaie, 2016. "Learning to Coordinate in Social Networks," Operations Research, INFORMS, vol. 64(3), pages 605-621, June.
    12. Li Mei, 2012. "Coordination Failure in Investment, Economic Growth, and Volatility," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-33, March.
    13. Dirk Bergemann & Stephen Morris, 2013. "Robust Predictions in Games with Incomplete Information," Levine's Working Paper Archive 786969000000000666, David K. Levine.
    14. George-Marios Angeletos & Jennifer La'O, 2010. "Noisy Business Cycles," NBER Chapters, in: NBER Macroeconomics Annual 2009, Volume 24, pages 319-378, National Bureau of Economic Research, Inc.
    15. George-Marios Angeletos & Jennifer La'O, 2011. "Decentralization, Communication, and the Origins of Fluctuations," NBER Working Papers 17060, National Bureau of Economic Research, Inc.
    16. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," NBER Working Papers 17229, National Bureau of Economic Research, Inc.
    17. Kenza Benhima, 2013. "Booms and Busts with dispersed information," Cahiers de Recherches Economiques du Département d'économie 13.11, Université de Lausanne, Faculté des HEC, Département d’économie.
    18. Amador, Manuel & Weill, Pierre-Olivier, 2012. "Learning from private and public observations of othersʼ actions," Journal of Economic Theory, Elsevier, vol. 147(3), pages 910-940.
    19. Chan, Jenny, 2024. "Monetary policy and sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 222(C).
    20. Guido Lorenzoni & George-Marios Angeletos, 2010. "Price Making Intermediation," 2010 Meeting Papers 963, Society for Economic Dynamics.
    21. Gáti, Laura, 2022. "Monetary policy & anchored expectations: an endogenous gain learning model," Working Paper Series 2685, European Central Bank.
    22. Ina A Taneva, 2015. "Information Design," Edinburgh School of Economics Discussion Paper Series 256, Edinburgh School of Economics, University of Edinburgh.
    23. Trabelsi, Emna & Hichri, Walid, 2021. "Central Bank Transparency with (semi-)public Information: Laboratory Experiments," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 90(C).
    24. Catilina, Eliane, 2019. "Information Acquisition with Endogenously Determined Cost in Cournot Markets with Stochastic Demand," MPRA Paper 93896, University Library of Munich, Germany.
    25. Michael Rousakis, 2013. "Expectations and Fluctuations: The Role of Monetary Policy," 2013 Meeting Papers 681, Society for Economic Dynamics.
    26. V. V. Chari & Luis Pérez, 2021. "Comment on Iovino, La’O and Mascarenhas, “Optimal Monetary Policy and Disclosure with an Informationally-Constrained Central Banker”," Staff Report 628, Federal Reserve Bank of Minneapolis.
    27. Aoki, Kosuke & Kimura, Takeshi, 2008. "Central bank's two-way communication with the public and inflation dynamics," LSE Research Online Documents on Economics 25483, London School of Economics and Political Science, LSE Library.
    28. Bizzarri, Matteo & d’Arienzo, Daniele, 2024. "The social value of overreaction to information," Journal of Mathematical Economics, Elsevier, vol. 115(C).
    29. Marco Bassetto & Carlo Galli, 2017. "Is Inflation Default? The Role of Information in Debt Crises," Working Paper Series WP-2017-6, Federal Reserve Bank of Chicago.
    30. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    31. Bassetto, Marco, 2019. "Forward guidance: Communication, commitment, or both?," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 69-86.
    32. Calvó-Armengol, Antoni & , & ,, 2015. "Communication and influence," Theoretical Economics, Econometric Society, vol. 10(2), May.
    33. Paciello, Luigi, 2009. "Monetary Policy Activism and Price Responsiveness to Aggregate Shocks under Rational Inattention," MPRA Paper 16407, University Library of Munich, Germany.
    34. Joan Esteban & Facundo Albornoz & Paolo Vanin, 2009. "Government Information Transparency," UFAE and IAE Working Papers 774.09, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 10 Feb 2010.
    35. Caprioli, Francesco, 2015. "Optimal fiscal policy under learning," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 101-124.
    36. Kristoffer P. Nimark, 2015. "Speculative Dynamics in the Term Structure of Interest Rates," Working Papers 430, Barcelona School of Economics.
    37. Xavier Vives, 2010. "Asset Auctions, Information, and Liquidity," CESifo Working Paper Series 2906, CESifo.
    38. Kohlhas, Alexandre N., 2020. "An informational rationale for action over disclosure," Journal of Economic Theory, Elsevier, vol. 187(C).
    39. Jonathan J Adams, 2020. "Moderating Macroeconomic Bubbles Under Dispersed Information," Working Papers 001005, University of Florida, Department of Economics.
    40. Femminis, Gianluca & Piccirilli, Giulio, 2021. "Efficient information acquisition with heterogeneous agents," Economics Letters, Elsevier, vol. 207(C).
    41. Hauk, Esther & Lanteri, Andrea & Marcet, Albert, 2021. "Optimal policy with general signal extraction," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 54-86.
    42. Jonathan G. James & Philip Lawler, 2024. "Clarity of Central Bank Communication and the Social Value of Public Information," Working Papers 2024-03, Swansea University, School of Management.
    43. Mankiw, N. Gregory & Reis, Ricardo, 2010. "Imperfect Information and Aggregate Supply," Scholarly Articles 33907956, Harvard University Department of Economics.
    44. Jennifer La'O, 2010. "Collateral Constraints and Noisy Fluctuations," 2010 Meeting Papers 780, Society for Economic Dynamics.
    45. Jenny Chan, 2024. "Monetary policy and sentiment-driven fluctuations," Bank of England Staff Working Paper series 1106, Bank of England.
    46. Galperti, Simone & Trevino, Isabel, 2020. "Coordination motives and competition for attention in information markets," Journal of Economic Theory, Elsevier, vol. 188(C).
    47. Bergemann, Dirk & Heumann, Tibor & Morris, Stephen, 2015. "Information and volatility," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 427-465.
    48. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    49. Eslami, Keyvan & Lee, Hyunju, 2024. "Overreaction and the value of information in a pandemic," European Economic Review, Elsevier, vol. 161(C).
    50. Torun Dewan & David P Myatt, 2012. "On the rhetorical strategies of leaders: Speaking clearly, standing back, and stepping down," Journal of Theoretical Politics, , vol. 24(4), pages 431-460, October.
    51. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2010. "Beauty Contests and Irrational Exuberance: A Neoclassical Approach," Levine's Working Paper Archive 661465000000000237, David K. Levine.
    52. Anna Bayona, 2018. "The social value of information with an endogenous public signal," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(4), pages 1059-1087, December.
    53. Heidhues, Paul & Melissas, Nicolas, 2010. "Technology Adoption, Social Learning, and Economic Policy," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 306, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    54. James, Jonathan G. & Lawler, Phillip, 2012. "Heterogeneous information quality; strategic complementarities and optimal policy design," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 342-352.
    55. Taneva, Ina A, 2015. "Information Design," SIRE Discussion Papers 2015-50, Scottish Institute for Research in Economics (SIRE).
    56. Yang Lu & Ernesto Pastén, 2013. "Coordination of Expectations and the Informational Role of Policy," Working Papers Central Bank of Chile 706, Central Bank of Chile.
    57. Roy, Sunanda & Singh, Rajesh & Weninger, Quinn, 2023. "Entry under placement uncertainty," ISU General Staff Papers 202102240800001096, Iowa State University, Department of Economics.
    58. Adams, Jonathan J., 2023. "Moderating noise-driven macroeconomic fluctuations under dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    59. Andreas Fuster & Ricardo Perez-Truglia & Mirko Wiederholt & Basit Zafar, 2022. "Expectations with Endogenous Information Acquisition: An Experimental Investigation," Post-Print hal-03878688, HAL.
    60. Tarek Eldomiaty & Islam Azzam & Hoda El Kolaly & Nermeen Youssef & Marwa Anwar Sedik & Rehab ElShahawy, 2025. "The Impact of Uncertain Welfare Quality on Equity Market Performance," IJFS, MDPI, vol. 13(2), pages 1-15, April.
    61. Waldyr Areosa & Marta Areosa, 2012. "The Signaling Effect of Exchange Rates: pass-through under dispersed information," Working Papers Series 282, Central Bank of Brazil, Research Department.
    62. George-Marios Angeletos & Jennifer La'O, 2011. "Optimal Monetary Policy with Informational Frictions," NBER Working Papers 17525, National Bureau of Economic Research, Inc.
    63. Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2016. "Efficiency and Policy with Endogenous Learning," 2016 Meeting Papers 229, Society for Economic Dynamics.
    64. Leal Vizcaíno René & Mekonnen Teddy, 2019. "Bayesian Comparative Statics," Working Papers 2019-03, Banco de México.
    65. Pavan, Alessandro & Vives, Xavier, 2015. "Information, Coordination, and Market Frictions: An Introduction," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 407-426.
    66. George-Marios Angeletos & Karthik A. Sastry, 2018. "Managing Expectations: Instruments vs. Targets," NBER Working Papers 25404, National Bureau of Economic Research, Inc.
    67. Myatt, David P. & Wallace, Chris, 2014. "Central bank communication design in a Lucas-Phelps economy," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 64-79.
    68. Hiroki Arato & Tomoya Nakamura, 2013. "Endogenous Alleviation of Overreaction Problem by Aggregate Information Announcement," The Japanese Economic Review, Japanese Economic Association, vol. 64(3), pages 319-336, September.
    69. Luigi Paciello, 2009. "Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention," EIEF Working Papers Series 0916, Einaudi Institute for Economics and Finance (EIEF), revised Sep 2011.
    70. Ui, Takashi & Yoshizawa, Yasunori, 2015. "Characterizing social value of information," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 507-535.
    71. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    72. Jonathan G. James & Phillip Lawler, 2011. "Optimal Policy Intervention and the Social Value of Public Information," American Economic Review, American Economic Association, vol. 101(4), pages 1561-1574, June.
    73. Vives, Xavier, 2011. "Endogenous public information and welfare," IESE Research Papers D/925, IESE Business School.
    74. Christian Hellwig, "undated". "Additional Results for "Knowing What Others Know" (May 2006)," UCLA Economics Online Papers 379, UCLA Department of Economics.
    75. Heumann, Tibor, 2021. "Efficiency in trading markets with multi-dimensional signals," Journal of Economic Theory, Elsevier, vol. 191(C).
    76. Jonathan G James & Phillip Lawler, 2017. "Optimal Transparency and Policy Intervention with Heterogeneous Signals and Information Stickiness," Manchester School, University of Manchester, vol. 85(5), pages 577-600, September.
    77. Klaus Kultti & Yi Zheng, 2022. "Market Inefficiency, Entry Order and Coordination," SN Operations Research Forum, Springer, vol. 3(3), pages 1-22, September.
    78. Femminis, Gianluca & Piccirilli, Giulio, 2023. "Optimal policy with dispersed information and uncertain monetary transmission," Economics Letters, Elsevier, vol. 229(C).
    79. Myatt, David P. & Wallace, Chris, 2015. "Cournot competition and the social value of information," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 466-506.
    80. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    81. Frankel, David M., 2017. "Efficient ex-ante stabilization of firms," Journal of Economic Theory, Elsevier, vol. 170(C), pages 112-144.
    82. Luca Colombo & Gianluca Femminis & Alessandro Pavan, 2012. "Information Acquisition and Welfare," Discussion Papers 1554, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    83. Waldyr Areosa & Marta Areosa, 2012. "Information (in) Chains: information transmission through production chains," Working Papers Series 286, Central Bank of Brazil, Research Department.
    84. Jean-Paul L'Huillier & William R. Zame, 2015. "The Flattening of the Phillips Curve and the Learning Problem of the Central Bank," EIEF Working Papers Series 1503, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2014.
    85. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2007. "Wall Street and Silicon Valley: A Delicate Interaction," NBER Working Papers 13475, National Bureau of Economic Research, Inc.

  38. George-Marios Angeletos & Alessandro Pavan & Christian Hellwig, 2007. "Defense Policies Against Currency Attacks: on the Possibility of Predictions in a Global Game with Multiple Equilibria," Discussion Papers 1459, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    Cited by:

    1. Daniëls, Tijmen R. & Jager, Henk & Klaassen, Franc, 2009. "Defending against speculative attacks," SFB 649 Discussion Papers 2009-011, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    2. Daniëls, Tijmen R. & Jager, Henk & Klaassen, Franc, 2011. "Currency crises with the threat of an interest rate defence," Journal of International Economics, Elsevier, vol. 85(1), pages 14-24, September.
    3. Grier, Kevin & Lin, Shu, 2009. "Speculative attacks and defenses as wars of attrition," European Journal of Political Economy, Elsevier, vol. 25(4), pages 540-546, December.
    4. Christian Bauer & Bernhard Herz, 2009. "The Dynamics of Financial Crises and the Risk to Defend the Exchange Rate," Research Papers in Economics 2009-03, University of Trier, Department of Economics.

  39. George-Marios Angeletos & Vasia Panousi, 2007. "Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets," NBER Working Papers 13136, National Bureau of Economic Research, Inc.

    Cited by:

    1. Edouard Challe & Xavier Ragot, 2008. "Public spending shock in a liquidity constrained economy," Sciences Po Economics Publications (main) hal-03461855, HAL.
    2. Herrera, Santiago & Vincent, Bruno, 2008. "Public expenditure and consumption volatility," Policy Research Working Paper Series 4633, The World Bank.
    3. Kenza Benhima, 2008. "A Reappraisal of the Allocation Puzzle through the Portfolio Approach," Working Papers hal-04140729, HAL.
    4. Catarina Reis & Vasia Panousi, 2016. "A unified framework for optimal taxation with undiversifiable risk," 2016 Meeting Papers 951, Society for Economic Dynamics.
    5. Vasia Panousi, 2008. "Capital Taxation with Entrepreneurial Risk," 2008 Meeting Papers 36, Society for Economic Dynamics.

  40. George-Marios Angeletos & Alessandro Pavan, 2007. "Dynamic Global Games of Regime Change: Learning, Multiplicity and Timing of Attacks," Discussion Papers 1497, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    Cited by:

    1. Bhalla, Manaswini & Chatterjee, Kalyan & Dutta, Souvik, 2021. "Social reform as a path to political leadership: A dynamic model," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 982-1010.
    2. Eguia, Jon X., 2022. "Multilateral regime change," Journal of Public Economics, Elsevier, vol. 205(C).
    3. Machado, Caio, 2023. "Managing Overreaction During a Run," MPRA Paper 117896, University Library of Munich, Germany, revised 08 Jul 2023.
    4. Goldstein, Itay & Yuan, Kathy & Ozdenoren, Emre, 2010. "Learning and Complementarities: Implications for Speculative Attacks," CEPR Discussion Papers 7651, Centre for Economic Policy Research.
    5. Xuewen Liu, 2015. "Short-Selling Attacks and Creditor Runs," Management Science, INFORMS, vol. 61(4), pages 814-830, April.
    6. Abraham Aldama & Daniel Draganoff & Gantavya Pahwa, 2024. "An experiment in the role of identity in fostering coordination," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 10(2), pages 294-309, December.
    7. Kalai, Ehud & Shmaya, Eran, 2018. "Large strategic dynamic interactions," Journal of Economic Theory, Elsevier, vol. 178(C), pages 59-81.
    8. Miguel Faria-e-Castro & Joseba Martinez & Thomas Philippon, 2017. "Runs versus Lemons: Information Disclosure and Fiscal Capacity," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(4), pages 1683-1707.
    9. Wolfgang Kuhle, 2024. "Games with Planned Actions and Scouting," Papers 2408.09778, arXiv.org.
    10. Haomiao Yu, 2014. "Rationalizability in large games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 457-479, February.
    11. Li Mei, 2012. "Coordination Failure in Investment, Economic Growth, and Volatility," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-33, March.
    12. Mitchener, Kris James & Pina, Gonçalo, 2020. "Pegxit pressure," Journal of International Money and Finance, Elsevier, vol. 107(C).
    13. Broner, Fernando A., 2008. "Discrete devaluations and multiple equilibria in a first generation model of currency crises," Journal of Monetary Economics, Elsevier, vol. 55(3), pages 592-605, April.
    14. Michele Berardi, 2018. "Information aggregation and learning in a dynamic asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 241, Economics, The University of Manchester.
    15. Itay Goldstein & Chong Huang, 2020. "Credit Rating Inflation and Firms' Investments," Journal of Finance, American Finance Association, vol. 75(6), pages 2929-2972, December.
    16. Joshua R. Hendrickson & Alexander William Salter, 2016. "A Theory of Why the Ruthless Revolt," Economics and Politics, Wiley Blackwell, vol. 28(3), pages 295-316, November.
    17. Rajkamal Iyer & Manju Puri & Nicholas Ryan, 2013. "Do Depositors Monitor Banks?," NBER Working Papers 19050, National Bureau of Economic Research, Inc.
    18. Bauer, Christian & Ernstberger, Philip, 2014. "The Dynamics of Currency Crises - Results from Intertemporal Optimization and Viscosity Solutions," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100300, Verein für Socialpolitik / German Economic Association.
    19. Aidas Masiliunas, 2016. "Overcoming Coordination Failure in a Critical Mass Game: Strategic Motives and Action Disclosure," AMSE Working Papers 1609, Aix-Marseille School of Economics, France.
    20. Jakub Steiner & Eugen Kovac, 2008. "Learning Options in Coordination Problems," 2008 Meeting Papers 848, Society for Economic Dynamics.
    21. Nimark, Kristoffer P. & Pitschner, Stefan, 2019. "News media and delegated information choice," Journal of Economic Theory, Elsevier, vol. 181(C), pages 160-196.
    22. Sargis Karavardanyan, 2021. "Are Actions Costlier Than Words? Formal Models of Protester-Police Dynamic Interactions and Evidence from Empirical Analysis," SN Operations Research Forum, Springer, vol. 2(4), pages 1-29, December.
    23. Basu, Pathikrit & Chatterjee, Kalyan & Hoshino, Tetsuya & Tamuz, Omer, 2020. "Repeated coordination with private learning," Journal of Economic Theory, Elsevier, vol. 190(C).
    24. Mathieu Taschereau-Dumouchel & Edouard Schaal, 2015. "Coordinating Business Cycles," 2015 Meeting Papers 178, Society for Economic Dynamics.
    25. Tijmen Daniëls, 2009. "Unique Equilibrium in a Dynamic Model of Speculative Attacks," De Economist, Springer, vol. 157(4), pages 417-439, December.
    26. Péter Kondor, 2009. "The more we know, the less we agree: Higher-order expectations and public announcements," 2009 Meeting Papers 1018, Society for Economic Dynamics.
    27. M. Ali Khan & Kali P. Rath & Yeneng Sun & Haomiao Yu, 2012. "Large Games with a Bio-Social Typology," Working Papers 035, Toronto Metropolitan University, Department of Economics.
    28. Frankel, David M., 2012. "Recurrent crises in global games," Journal of Mathematical Economics, Elsevier, vol. 48(5), pages 309-321.
    29. Munther A. Dahleh & Alireza Tahbaz-Salehi & John N. Tsitsiklis & Spyros I. Zoumpoulis, 2016. "Technical Note—Coordination with Local Information," Operations Research, INFORMS, vol. 64(3), pages 622-637, June.
    30. Guimaraes, Bernardo, 2008. "Vulnerability of currency pegs: evidence from Brazil," LSE Research Online Documents on Economics 4909, London School of Economics and Political Science, LSE Library.
    31. Dasgupta, Amil & Steiner, Jakub & Stewart, Colin, 2012. "Dynamic coordination with individual learning," Games and Economic Behavior, Elsevier, vol. 74(1), pages 83-101.
    32. Ravi Kashyap, 2019. "Concepts, Components and Collections of Trading Strategies and Market Color," Papers 1910.02144, arXiv.org, revised Jan 2020.
    33. Oh, Frederick Dongchuhl & Park, Junghum, 2023. "A large creditor in contagious liquidity crises," Journal of Banking & Finance, Elsevier, vol. 146(C).
    34. Shadmehr, Mehdi & Bernhardt, Dan, 2019. "Vanguards in revolution," Games and Economic Behavior, Elsevier, vol. 115(C), pages 146-166.
    35. Moheeput, Ashwin, "undated". "Financial Fragility, Systemic Risks and Informational Spillovers: Modelling Banking Contagion as State-Contingent Change in Cross-Bank Correlation," Economic Research Papers 269851, University of Warwick - Department of Economics.
    36. Nakao, Keisuke, 2017. "Patterns of Rebellion: A Model with Three Challengers," MPRA Paper 80034, University Library of Munich, Germany.
    37. Kjell Hausken & Mthuli Ncube, 2017. "Incumbent policy, benefits provision, and the triggering and spread of revolutionary uprisings," Economics of Peace and Security Journal, EPS Publishing, vol. 12(1), pages 54-63, April.
    38. Jacek Rothert, 2009. "Monitoring, Moral Hazard and Turnover," Department of Economics Working Papers 130124, The University of Texas at Austin, Department of Economics, revised Sep 2012.
    39. Kim, Minseong & Kim, Young-Han, 2013. "When does coordination for free trade regimes fail?," Economic Modelling, Elsevier, vol. 31(C), pages 31-36.
    40. Jakub Steiner & Colin Stewart, 2010. "Influential Opinion Leaders," Working Papers tecipa-403, University of Toronto, Department of Economics.
    41. Hennessy, David A., 2007. "Coordinating to Eradicate Animal Disease, and the Role of Insurance Markets," Hebrew University of Jerusalem Archive 7702, Hebrew University of Jerusalem.
    42. Guimaraes, Bernardo, 2007. "Currency Crisis Triggers: Sunspots or Thresholds?," CEPR Discussion Papers 6487, Centre for Economic Policy Research.
    43. Araujo, Luis & Guimaraes, Bernardo, 2015. "Intertemporal coordination with delay options," Journal of Economic Theory, Elsevier, vol. 157(C), pages 793-810.
    44. Timmermann, Allan & Wermers, Russ, 2014. "Runs on Money Market Funds," CEPR Discussion Papers 9906, Centre for Economic Policy Research.
    45. Berardi, Michele, 2012. "Strategic interactions, incomplete information and learning," MPRA Paper 38651, University Library of Munich, Germany.
    46. Liao, Xiaoye & Szkup, Michal, 2026. "Coordination with sequential information acquisition," Theoretical Economics, Econometric Society, vol. 21(1), January.
    47. Inostroza, Nicolas A. & Pavan, Alessandro, 2025. "Adversarial coordination and public information design," Theoretical Economics, Econometric Society, vol. 20(2), May.
    48. Besancenot, Damien & Vranceanu, Radu, 2015. "Fear of novelty : a model of scientific discovery with strategic uncertainty," ESSEC Working Papers WP1503, ESSEC Research Center, ESSEC Business School.
    49. John Higgins & Tarun Sabarwal, 2021. "Control and Spread of Contagion in Networks," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202111, University of Kansas, Department of Economics.
    50. Salvador Barbera & Matthew O. Jackson, 2017. "A Model of Protests, Revolution, and Information," HiCN Working Papers 243, Households in Conflict Network.
    51. George-Marios Angeletos & Alessandro Pavan, 2012. "Selection-Free Predictions in Global Games with Endogenous Information and Multiple Equilibria," Discussion Papers 1570, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    52. Isabel Trevino, 2020. "Informational Channels of Financial Contagion," Econometrica, Econometric Society, vol. 88(1), pages 297-335, January.
    53. Edmond, Chris, 2018. "Non-Laplacian beliefs in a global game with noisy signaling," Research in Economics, Elsevier, vol. 72(2), pages 297-312.
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    122. Romeo Matthew Balanquit, 2016. "Threshold Bank-run Equilibrium in Dynamic Games," UP School of Economics Discussion Papers 201607, University of the Philippines School of Economics.
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    133. Geir H. Bjønnes & Steinar Holden & Dagfinn Rime & Haakon O. Aa. Solheim, 2009. "'Large' vs. 'Small' Players: A Closer Look at the Dynamics of Speculative Attacks," CESifo Working Paper Series 2518, CESifo.
    134. de Martí, Joan & Milán, Pau, 2019. "Regime change in large information networks," Games and Economic Behavior, Elsevier, vol. 113(C), pages 262-284.
    135. Christian Bauer & Bernhard Herz, 2009. "The Dynamics of Financial Crises and the Risk to Defend the Exchange Rate," Research Papers in Economics 2009-03, University of Trier, Department of Economics.
    136. Georgy Lukyanov & Anastasia Makhmudova, 2025. "Public Communication in Regime Change games," Papers 2509.04749, arXiv.org, revised Nov 2025.
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    149. Li, Fei & Song, Yangbo & Zhao, Mofei, 2023. "Global manipulation by local obfuscation," Journal of Economic Theory, Elsevier, vol. 207(C).
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    151. Chong Huang, 2018. "Coordination and social learning," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(1), pages 155-177, January.
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  41. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2007. "Wall Street and Silicon Valley: A Delicate Interaction," NBER Working Papers 13475, National Bureau of Economic Research, Inc.

    Cited by:

    1. Goldstein, Itay & Yuan, Kathy & Ozdenoren, Emre, 2010. "Learning and Complementarities: Implications for Speculative Attacks," CEPR Discussion Papers 7651, Centre for Economic Policy Research.
    2. Dmitry Shapiro & Xianwen Shi & Artie Zillante, 2009. "Robustness of Level-k Reasoning in Generalized Beauty Contest Games," Working Papers tecipa-380, University of Toronto, Department of Economics.
    3. Ms. Celine Rochon & Gabriel Desgranges, 2011. "Conformism and Public News," IMF Working Papers 2011/033, International Monetary Fund.
    4. Ted Temzelides & Cyril Monnet & Marie Hoerova, 2008. "Public Information and Monetary Policy," 2008 Meeting Papers 5, Society for Economic Dynamics.
    5. Guido Lorenzoni & George-Marios Angeletos, 2010. "Price Making Intermediation," 2010 Meeting Papers 963, Society for Economic Dynamics.
    6. Péter Kondor, 2009. "The more we know, the less we agree: Higher-order expectations and public announcements," 2009 Meeting Papers 1018, Society for Economic Dynamics.
    7. Kevin J. Lansing, 2012. "Speculative Growth, Overreaction, and the Welfare Cost of Technology-Driven Bubbles," Working Paper Series 2008-08, Federal Reserve Bank of San Francisco.
    8. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2010. "Beauty Contests and Irrational Exuberance: A Neoclassical Approach," Levine's Working Paper Archive 661465000000000237, David K. Levine.
    9. Thomas M. Mertens & Tarek A. Hassan, 2010. "The Social Cost of Near-Rational Investment," 2010 Meeting Papers 370, Society for Economic Dynamics.
    10. Goldstein, Itay & Yuan, Kathy & Ozdenoren, Emre, 2010. "Trading Frenzies and Their Impact on Real Investment," CEPR Discussion Papers 7652, Centre for Economic Policy Research.
    11. Gabriel Desgranges & Céline Rochon, 2008. "Conformism, Public News and Market Efficiency," Thema Working Papers 2008-24, THEMA (Théorie Economique, Modélisation et Applications), CY Cergy-Paris University, ESSEC and CNRS.
    12. Tarek A. Hassan & Thomas M. Mertens, 2014. "Information Aggregation in a Dynamic Stochastic General Equilibrium Model," NBER Chapters, in: NBER Macroeconomics Annual 2014, Volume 29, pages 159-207, National Bureau of Economic Research, Inc.
    13. Kondor, Péter, 2011. "The more we know on the fundamental, the less we agree on the price," CEPR Discussion Papers 8455, Centre for Economic Policy Research.
    14. George-Marios Angeletos & Jennifer La'O, 2009. "Incomplete Information, Higher-Order Beliefs and Price Inertia," NBER Working Papers 15003, National Bureau of Economic Research, Inc.
    15. Sockin, Michael, 2025. "Informational frictions in funding and credit markets," Journal of Economic Theory, Elsevier, vol. 230(C).
    16. George-Marios Angeletos & Alessandro Pavan, 2007. "Policy with Dispersed Information," NBER Working Papers 13590, National Bureau of Economic Research, Inc.
    17. Shapiro, Dmitry & Shi, Xianwen & Zillante, Artie, 2014. "Level-k reasoning in a generalized beauty contest," Games and Economic Behavior, Elsevier, vol. 86(C), pages 308-329.

  42. George-Marios Angeletos & Alessandro Pavan, 2006. "Socially Optimal Coordination: Characterization and Policy Implications," NBER Working Papers 12778, National Bureau of Economic Research, Inc.

    Cited by:

    1. Camille Cornand & Frank Heinemann, 2010. "Measuring Agents' Reaction to Private and Public Information in Games with Strategic Complementarities," CESifo Working Paper Series 2947, CESifo.
    2. Sylvérie Herbert, 2022. "State-dependent Central Bank Communication with Heterogeneous Beliefs," Working papers 875, Banque de France.
    3. Meixing Dai & Moïse Sidiropoulos, 2017. "How multiplicative uncertainty affects the tradeoff between information disclosure and stabilisation policy?," Working Papers of BETA 2017-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. Thomas, Caroline, 2019. "Experimentation with reputation concerns – Dynamic signalling with changing types," Journal of Economic Theory, Elsevier, vol. 179(C), pages 366-415.
    5. Mäkinen, Taneli & Ohl, Björn, 2015. "Information acquisition and learning from prices over the business cycle," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 585-633.
    6. Kenza Benhima & Isabella Blengini, 2017. "Optimal Monetary Policy when Information is Market-Generated," Cahiers de Recherches Economiques du Département d'économie 17.14, Université de Lausanne, Faculté des HEC, Département d’économie.
    7. Grout, Paul A. & Mitraille, Sébastien & Sonderegger, Silvia, 2015. "The costs and benefits of coordinating with a different group," Journal of Economic Theory, Elsevier, vol. 160(C), pages 517-535.
    8. Paul A. Grout & Sebastien Mitraille & Silvia Sonderegger, 2008. "The Costs and Benefits of "Strangers": Why Mixed Communities Are Better," The Centre for Market and Public Organisation 08/191, The Centre for Market and Public Organisation, University of Bristol, UK.
    9. Jonathan G. James & Phillip Lawler, 2011. "Optimal Policy Intervention and the Social Value of Public Information," American Economic Review, American Economic Association, vol. 101(4), pages 1561-1574, June.
    10. Silvia Sonderegger, 2010. "Centralized Or Decentralized Information: Which Is Better For Providing Incentives?," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 290-305, April.
    11. Jonathan G. James & Phillip Lawler, 2015. "Heterogeneous private sector information, central bank disclosure, and stabilization policy," Southern Economic Journal, John Wiley & Sons, vol. 82(2), pages 620-634, October.
    12. Park, Sungmin & Kim, Young-Han, 2018. "International policy coordination for financial regime stability under cross-border externalities," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 177-188.
    13. Raphael Galvao & Felipe Shalders, 2020. "Rules versus Discretion in Central Bank Communication," Working Papers, Department of Economics 2020_02, University of São Paulo (FEA-USP).
    14. Femminis, Gianluca & Piccirilli, Giulio, 2021. "Efficient information acquisition with heterogeneous agents," Economics Letters, Elsevier, vol. 207(C).
    15. George-Marios Angeletos & Alessandro Pavan, 2007. "Policy with Dispersed Information," NBER Working Papers 13590, National Bureau of Economic Research, Inc.
    16. James, Jonathan G. & Lawler, Phillip, 2012. "Heterogeneous information quality; strategic complementarities and optimal policy design," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 342-352.
    17. Huang, Weiting, 2009. "作为人力资本的语言：专业化、组织沟通与语言习得 [Language as Human Capital: Labor Specialization, Organizational Communication and Language Acquisition]," MPRA Paper 15677, University Library of Munich, Germany.
    18. Chen, Heng & Luo, Yulei & Pei, Guangyu, 2015. "Attention Misallocation, Social Welfare and Policy Implications," MPRA Paper 63828, University Library of Munich, Germany.
    19. Romain Baeriswyl & Camille Cornand, 2007. "Monetary policy and its informative value," Proceedings, Federal Reserve Bank of San Francisco, issue March, pages 1-34.
    20. Jonathan G James & Phillip Lawler, 2017. "Optimal Transparency and Policy Intervention with Heterogeneous Signals and Information Stickiness," Manchester School, University of Manchester, vol. 85(5), pages 577-600, September.
    21. Chen, Heng & Luo, Yulei & Pei, Guangyu, 2014. "Too Much of a Good Thing: Attention Misallocation and Social Welfare in Coordination Games," MPRA Paper 59139, University Library of Munich, Germany.

  43. George-Marios Angeletos, 2006. "Uninsured Idiosyncratic Investment Risk: Positive and Normative Implications," 2006 Meeting Papers 596, Society for Economic Dynamics.

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    1. Monacelli, Tommas & Sala, Luca & Siena, Daniele, 2018. "Real Interest Rates and Productivity in Small Open Economies," CEPR Discussion Papers 12808, Centre for Economic Policy Research.
    2. Hakan Berument & N. Nergiz Dincer & Zafer Mustafaoglu, 2011. "Total factor productivity and macroeconomic instability," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 20(5), pages 605-629, September.

  44. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2005. "Signaling in a Global Game: Coordination and Policy Traps," Discussion Papers 1400, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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    1. Paul Hubert & Becky Maule, 2016. "Policy and Macro Signals as Inputs to Inflation Expectation Formation," Working Papers hal-03459462, HAL.
    2. Xuewen Liu, 2015. "Short-Selling Attacks and Creditor Runs," Management Science, INFORMS, vol. 61(4), pages 814-830, April.
    3. Alonso, Ricardo & Zachariadis, Konstantinos E., 2024. "Persuading large investors," LSE Research Online Documents on Economics 126040, London School of Economics and Political Science, LSE Library.
    4. Aleksei Smirnov & Egor Starkov, 2018. "Bad news turned good: reversal under censorship," ECON - Working Papers 307, Department of Economics - University of Zurich.
    5. Li Mei, 2012. "Coordination Failure in Investment, Economic Growth, and Volatility," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-33, March.
    6. Schweighofer-Kodritsch, Sebastian & Huck, Steffen & Humphreys, Macartan, 2025. "Political salience, endogenous bandwagoning, and regime resilience," Games and Economic Behavior, Elsevier, vol. 154(C), pages 79-96.
    7. Toxvaerd, Flavio, 2008. "Strategic merger waves: A theory of musical chairs," Journal of Economic Theory, Elsevier, vol. 140(1), pages 1-26, May.
    8. Raphael Galvão & Felipe Shalders, 2023. "Rules versus discretion in Central Bank communication," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(2), pages 177-203, June.
    9. Itay Goldstein & Chong Huang, 2020. "Credit Rating Inflation and Firms' Investments," Journal of Finance, American Finance Association, vol. 75(6), pages 2929-2972, December.
    10. Bogna Gawronska-Nowak & Wojciech Grabowski, 2016. "Using Genetic Algorithm In Dynamic Model Of Speculative Attack," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 11(2), pages 287-306, June.
    11. Edouard Challe & Edouard Chrétien, 2018. "Market microstructure, information aggregation and equilibrium uniqueness in a global game," Post-Print hal-03440891, HAL.
    12. Joel Shapiro & Jing Zeng, 2024. "Stress Testing and Bank Lending," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1265-1314.
    13. Jess Benhabib & Pengfei Wang & Yi Wen, 2012. "Sentiments and Aggregate Demand Fluctuations," NBER Working Papers 18413, National Bureau of Economic Research, Inc.
    14. Bauer, Christian & Ernstberger, Philip, 2014. "The Dynamics of Currency Crises - Results from Intertemporal Optimization and Viscosity Solutions," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100300, Verein für Socialpolitik / German Economic Association.
    15. Jakub Steiner & Eugen Kovac, 2008. "Learning Options in Coordination Problems," 2008 Meeting Papers 848, Society for Economic Dynamics.
    16. Farshid Pourshahabi & Nazar Dahmardeh, 2014. "The Effects of Economic Sanctions and Speculative Attacks on Inflation," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 18(3), pages 45-67, Autumn.
    17. Douglas Cumming & My Nguyen & Anh Viet Pham & Ama Samarasinghe, 2026. "Banking system stability: a global analysis of cybercrime laws," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 57(3), pages 356-380, April.
    18. Christian Hellwig, "undated". "Policy in a Global Coordination Game: Multiplicity vs. Robust Predictions (November 2006, with Marios Angeletos and Alessandro Pavan)," UCLA Economics Online Papers 401, UCLA Department of Economics.
    19. Frankel, David M., 2012. "Recurrent crises in global games," Journal of Mathematical Economics, Elsevier, vol. 48(5), pages 309-321.
    20. Itay Goldstein & Assaf Razin, 2013. "Three Branches of Theories of Financial Crises," NBER Working Papers 18670, National Bureau of Economic Research, Inc.
    21. Cimadomo, Jacopo & Callegari, Giovanni & Ricco, Giovanni, 2016. "Signals from the government: policy disagreement and the transmission of fiscal shocks," Working Paper Series 1964, European Central Bank.
    22. Munther A. Dahleh & Alireza Tahbaz-Salehi & John N. Tsitsiklis & Spyros I. Zoumpoulis, 2016. "Technical Note—Coordination with Local Information," Operations Research, INFORMS, vol. 64(3), pages 622-637, June.
    23. Gobbi, Alessandro & Grazzini, Jakob, 2019. "A basic New Keynesian DSGE model with dispersed information: An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 101-116.
    24. Berkelmans, Leon, 2011. "Imperfect information, multiple shocks, and policy's signaling role," Journal of Monetary Economics, Elsevier, vol. 58(4), pages 373-386.
    25. Wang, Bo & Zhou, Zhen, 2023. "Informational feedback between voting and speculative trading," Games and Economic Behavior, Elsevier, vol. 138(C), pages 387-406.
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    27. Moheeput, Ashwin, "undated". "Financial Fragility, Systemic Risks and Informational Spillovers: Modelling Banking Contagion as State-Contingent Change in Cross-Bank Correlation," Economic Research Papers 269851, University of Warwick - Department of Economics.
    28. Markus K. Brunnermeier & Michael Sockin & Wei Xiong, 2020. "China's Model of Managing the Financial System," NBER Working Papers 27171, National Bureau of Economic Research, Inc.
    29. Mei Li & Junfeng Qiu, 2011. "Endogenous inflows of speculative capital and the optimal currency appreciation path," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 44(1), pages 364-379, February.
    30. Hennessy, David A., 2007. "Coordinating to Eradicate Animal Disease, and the Role of Insurance Markets," Hebrew University of Jerusalem Archive 7702, Hebrew University of Jerusalem.
    31. Huck, Steffen & Humphreys, Macartan & Schweighofer-Kodritsch, Sebastian, 2023. "Political salience and regime resilience," Discussion Papers, Research Unit: Economics of Change SP II 2023-305r, WZB Berlin Social Science Center, revised 2023.
    32. Albrecht, James & Gautier, Pieter A. & Vroman, Susan, 2009. "Directed Search in the Housing Market," IZA Discussion Papers 4671, IZA Network @ LISER.
    33. Grier, Kevin & Lin, Shu, 2010. "Do high interest rates deter speculative attacks? - Evidence and some theory," Journal of International Money and Finance, Elsevier, vol. 29(5), pages 938-950, September.
    34. Kemal Kivanç Aköz & Pablo Hernández‐Lagos, 2019. "Rents from power for a dissident elite and mass mobilization," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(4), pages 584-604, September.
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    36. Georgy Lukyanov & Anastasia Makhmudova, 2026. "Public communication in regime change games," International Journal of Game Theory, Springer;Game Theory Society, vol. 55(1), pages 1-20, June.
    37. Zhiguo He & Arvind Krishnamurthy & Konstantin Milbradt, 2016. "A Model of Safe Asset Determination," NBER Working Papers 22271, National Bureau of Economic Research, Inc.
    38. John Higgins & Tarun Sabarwal, 2021. "Control and Spread of Contagion in Networks," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202111, University of Kansas, Department of Economics.
    39. George-Marios Angeletos & Alessandro Pavan, 2012. "Selection-Free Predictions in Global Games with Endogenous Information and Multiple Equilibria," Discussion Papers 1570, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    40. Schilling, Linda, 2024. "Smooth Regulatory Intervention," MPRA Paper 120041, University Library of Munich, Germany.
    41. Isabel Trevino, 2020. "Informational Channels of Financial Contagion," Econometrica, Econometric Society, vol. 88(1), pages 297-335, January.
    42. Edmond, Chris, 2018. "Non-Laplacian beliefs in a global game with noisy signaling," Research in Economics, Elsevier, vol. 72(2), pages 297-312.
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    44. Anna Zabai, 2014. "Managing Default Risk," BIS Working Papers 467, Bank for International Settlements.
    45. Hoerova, Marie & Monnet, Cyril & Temzelides, Ted, 2012. "Money talks," Economics Letters, Elsevier, vol. 116(3), pages 617-621.
    46. Rashad Ahmed & Iñaki Aldasoro & Chanelle Duley, 2024. "Public information and stablecoin runs," BIS Working Papers 1164, Bank for International Settlements.
    47. Baeriswyl, Romain & Cornand, Camille, 2010. "The signaling role of policy actions," Journal of Monetary Economics, Elsevier, vol. 57(6), pages 682-695, September.
    48. Leonardo Melosi, 2014. "Signaling Effects of Monteray Policy," 2014 Meeting Papers 830, Society for Economic Dynamics.
    49. John Higgins & Tarun Sabarwal, 2022. "Control and spread of contagion in networks with global effects," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202211, University of Kansas, Department of Economics.
    50. Schilling, Linda, 2023. "Smooth versus Harsh Regulatory Interventions and Policy Equivalence," MPRA Paper 116612, University Library of Munich, Germany.
    51. Yang Lu & Ernesto Pastén, 2013. "Coordination of Expectations and the Informational Role of Policy," Working Papers Central Bank of Chile 706, Central Bank of Chile.
    52. Aviad Heifetz & Willemien Kets, 2013. "Robust Multiplicity with a Grain of Naiveté," Discussion Papers 1573, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    53. Ma, Kebin & Vadasz, Tamas, 2024. "The informational impact of prudential regulations," Journal of Financial Intermediation, Elsevier, vol. 59(C).
    54. Giancarlo Marini & Giovanni Piersanti, 2012. "Models of Speculative Attacks and Crashes in International Capital Markets," CEIS Research Paper 245, Tor Vergata University, CEIS, revised 24 Jul 2012.
    55. Gu, Jiadong, 2023. "Optimal stress tests and liquidation cost," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    56. Tobias Berg & Eva Schliephake, 2026. "Market‐Triggered Contingent Capital with Incomplete Information," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(2), pages 563-589, March.
    57. Pavan, Alessandro & Vives, Xavier, 2015. "Information, Coordination, and Market Frictions: An Introduction," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 407-426.
    58. Mark Whitmeyer, 2020. "In Simple Communication Games, When Does Ex Ante Fact-Finding Benefit the Receiver?," Papers 2001.09387, arXiv.org.
    59. Szkup, Michal & Trevino, Isabel, 2015. "Information acquisition in global games of regime change," Journal of Economic Theory, Elsevier, vol. 160(C), pages 387-428.
    60. Ming Yi, 2017. "Dynamic beauty contests: Learning from the winners to win?," Journal of Economics, Springer, vol. 122(1), pages 67-92, September.
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    62. Guillaume Rocheteau, 2008. "Money and competing assets under private information," Working Papers (Old Series) 0802, Federal Reserve Bank of Cleveland.
    63. Michalski, Tomasz & Stoltz, Gilles, 2010. "Do countries falsify economic date strategically? Some evidence that they do," HEC Research Papers Series 930, HEC Paris.
    64. White, Lucy & Walther, Ansgar, 2019. "Rules versus Discretion in Bank Resolution," CEPR Discussion Papers 14048, Centre for Economic Policy Research.
    65. Ing-Haw Cheng & Alice Hsiaw, 2020. "Reporting Sexual Misconduct in the #MeToo Era," Working Papers 129R, Brandeis University, Department of Economics and International Business School, revised Aug 2020.
    66. Daley, Brendan & Green, Brett, 2014. "Market signaling with grades," Journal of Economic Theory, Elsevier, vol. 151(C), pages 114-145.
    67. Junnosuke Shino, 2010. "Lender of Last Resort Policy in a Global Game and the Role of Depositors Aggregate Behavior as Signaling," Departmental Working Papers 201007, Rutgers University, Department of Economics.
    68. Marco Bassetto & Carlo Galli, 2017. "Is Inflation Default? The Role of Information in Debt Crises," Discussion Papers 1715, Centre for Macroeconomics (CFM).
    69. Leonardo Melosi, 2012. "Signaling effects of monetary policy," Working Paper Series WP-2012-05, Federal Reserve Bank of Chicago.
    70. Frankel, David M., 2014. "Optimal Insurance for Small Stakeholders," Staff General Research Papers Archive 37551, Iowa State University, Department of Economics.
    71. Michel Aglietta & Xavier Ragot, 2015. "Erosion du tissu productif en France : Causes et remèdes," Documents de Travail de l'OFCE 2015-04, Observatoire Francais des Conjonctures Economiques (OFCE).
    72. Chong Huang, 2011. "Defending Against Speculative Attacks: Reputation, Learning, and Coordination," PIER Working Paper Archive 11-039, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    73. Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee, 2020. "Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis," Staff Reports 909, Federal Reserve Bank of New York.
    74. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 689-740, Elsevier.
    75. Clayton, Christopher & Schaab, Andreas, 2022. "A Theory of Dynamic Inflation Targets," TSE Working Papers 22-1389, Toulouse School of Economics (TSE).
    76. Willemien Kets & Alvaro Sandroni, 2020. "A Theory of Strategic Uncertainty and Cultural Diversity," Economics Series Working Papers 920, University of Oxford, Department of Economics.
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    79. Daniëls, Tijmen R. & Jager, Henk & Klaassen, Franc, 2011. "Currency crises with the threat of an interest rate defence," Journal of International Economics, Elsevier, vol. 85(1), pages 14-24, September.
    80. Blot, Christophe & Ducoudré, Bruno & Timbeau, Xavier, 2016. "Sovereign debt spread and default in a model with self-fulfilling prophecies and asymmetric information," Journal of Macroeconomics, Elsevier, vol. 47(PB), pages 281-299.
    81. David P. Myatt & Chris Wallace, 2008. "On the Sources and Value of Information: Public Announcements and Macroeconomic Performance," Economics Series Working Papers 411, University of Oxford, Department of Economics.
    82. Jess Benhabib & Pengfei Wang & Yi Wen, 2013. "Uncertainty and sentiment-driven equilibria," Working Papers 2013-011, Federal Reserve Bank of St. Louis.
    83. Bosma, Jakob J., 2016. "Dueling policies: Why systemic risk taxation can fail," European Economic Review, Elsevier, vol. 87(C), pages 132-147.
    84. Filipp Ushchev & Roger LR Lagunoff, 2026. "Inequality, Welfare, and the Cost of Coordination Failure," Working Papers ECARES 2026-16, ULB -- Universite Libre de Bruxelles.
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    89. Huang, Chong, 2017. "Defending against speculative attacks: The policy maker's reputation," Journal of Economic Theory, Elsevier, vol. 171(C), pages 1-34.
    90. Iachan, Felipe S. & Nenov, Plamen T., 2015. "Information quality and crises in regime-change games," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 739-768.
    91. Iván Werning & George-Marios Angeletos, 2006. "Crises and Prices: Information Aggregation, Multiplicity, and Volatility," American Economic Review, American Economic Association, vol. 96(5), pages 1720-1736, December.
    92. Gaoqing Zhang, 2021. "Competition and Opacity in the Financial System," Management Science, INFORMS, vol. 67(3), pages 1895-1913, March.
    93. Francesc Dilmé & Fei Li, 2016. "Dynamic Signaling with Dropout Risk," American Economic Journal: Microeconomics, American Economic Association, vol. 8(1), pages 57-82, February.
    94. Lin Shen & Junyuan Zou, 2024. "Intervention with Screening in Panic‐Based Runs," Journal of Finance, American Finance Association, vol. 79(1), pages 357-412, February.
    95. Chanelle Duley & Prasanna Gai, 2023. "Macroeconomic tail risk, currency crises and the inter‐war gold standard," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1551-1582, November.
    96. George-Marios Angeletos & Alessandro Pavan, 2007. "Dynamic Global Games of Regime Change: Learning, Multiplicity and Timing of Attacks," Discussion Papers 1497, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    97. Wang, Yuyue & Fang, Hongyan & Luo, Ronghua, 2022. "Does state ownership affect rating quality? Evidence from China's corporate bond market," Economic Modelling, Elsevier, vol. 111(C).
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    99. Francesco De Sinopoli & Leo Ferraris & Claudia Meroni, 2024. "Group size as selection device," Working Papers 533, University of Milano-Bicocca, Department of Economics.
    100. Mehmet Ekmekci & Nenad Kos, 2020. "Signaling Covertly Acquired Information," Working Papers 658, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    101. Geir H. Bjønnes & Steinar Holden & Dagfinn Rime & Haakon O. Aa. Solheim, 2009. "'Large' vs. 'Small' Players: A Closer Look at the Dynamics of Speculative Attacks," CESifo Working Paper Series 2518, CESifo.
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    146. Szkup, Michal, 2017. "Multiplier effect and comparative statics in global games of regime change," MPRA Paper 82729, University Library of Munich, Germany.

  45. Philippe Aghion & George-Marios Angeletos & Abhijit Banerjee & Kalina Manova, 2005. "Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment," NBER Working Papers 11349, National Bureau of Economic Research, Inc.

    Cited by:

    1. Peter Bauer & Igor Fedotenkov & Aurelien Genty & Issam Hallak & Peter Harasztosi & David Martinez Turegano & David Nguyen & Nadir Preziosi & Ana Rincon-Aznar & Miguel Sanchez Martinez, 2020. "Productivity in Europe: Trends and drivers in a service-based economy," JRC Research Reports JRC119785, Joint Research Centre.
    2. Kalina Manova, 2008. "Credit Constraints, Heterogeneous Firms, and International Trade," NBER Working Papers 14531, National Bureau of Economic Research, Inc.
    3. Mauro Ghinamo & Paolo M. Panteghini & Federico Revelli, 2008. "FDI Determination and Corporate Tax Competition in a Volatile World," Working Papers 0802, University of Brescia, Department of Economics.
    4. David S. Jacks, Kevin H. O'Rourke and Jeffrey G. Williamson, 2009. "Commodity Price Volatility and World Market Integration since 1700," The Institute for International Integration Studies Discussion Paper Series iiisdp284, IIIS.
    5. Ms. Marialuz Moreno Badia & Veerle Slootmaekers, 2009. "The Missing Link Between Financial Constraints and Productivity," IMF Working Papers 2009/072, International Monetary Fund.
    6. Philippe Aghion & Paul A. David & Dominique Foray, 2007. "Science, Technology and Innovation for Economic Growth: Towards Linking Policy Research and Practice in 'STIG Systems'," Discussion Papers 06-039, Stanford Institute for Economic Policy Research, revised Oct 2008.
    7. Aghion, Philippe & Askenazy, Philippe & Berman, Nicolas & Cette, Gilbert & Eymard, Laurent, 2012. "Credit Constraints and the Cyclicality of R&D Investment: Evidence from France," Scholarly Articles 27759621, Harvard University Department of Economics.
    8. Philippe Aghion & Paul A. David & Dominique Foray, 2007. "Linking policy research and practice in ‘STIG Systems’: Many obstacles, but some ways forward," CEMI Working Papers cemi-workingpaper-2007-00, Ecole Polytechnique Fédérale de Lausanne, Collège du Management de la Technologie, Management of Technology and Entrepreneurship Institute, Chaire en Economie et Management de l'Innovation.
    9. Patrick Musso & Stefano Schiavo, 2008. "The impact of financial constraints on firm survival and growth," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 135-149, April.
    10. Francisco Arizala & Eduardo Cavallo & Arturo Galindo, 2009. "Financial Development and TFP Growth: Cross-Country and Industry-Level Evidence," Research Department Publications 4630, Inter-American Development Bank, Research Department.
    11. Frederick Van der Ploeg & Steven Poelhekke, 2009. "The Volatility Curse: Revisiting the Paradox of Plenty," CESifo Working Paper Series 2616, CESifo.
    12. Uluc Aysun & Zeynep Yom, 2017. "Interest rates, R&D investment and the distortionary effects of R&D incentives," Villanova School of Business Department of Economics and Statistics Working Paper Series 37, Villanova School of Business Department of Economics and Statistics.
    13. Kunieda, Takuma & Okada, Keisuke & Shibata, Akihisa, 2011. "Finance and Inequality: How Does Globalization Change Their Relationship?," MPRA Paper 35358, University Library of Munich, Germany.
    14. Love, Inessa & Gatti, Roberta, 2008. "Does access to credit improve productivity? Evidence from Bulgarian firms," CEPR Discussion Papers 6676, Centre for Economic Policy Research.
    15. Jean Pisani-Ferry & Mr. Xavier Debrun & André Sapir, 2008. "Government Size and Output Volatility: Should We Forsake Automatic Stabilization?," IMF Working Papers 2008/122, International Monetary Fund.
    16. Beck, Thorsten, 2006. "Creating an efficient financial system : challenges in a global economy," Policy Research Working Paper Series 3856, The World Bank.
    17. Martinsson, Gustav, 2009. "Finance and R&D Investments - is there a debt overhang effect on R&D investments?," Working Paper Series in Economics and Institutions of Innovation 174, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    18. Commander, Simon & Svejnar, Jan & Tinn, Katrin, 2008. "Explaining the performance of firms and countries: What does the business environment play?," Working Papers 836, Graduate School of Management, St. Petersburg State University.
    19. David, Paul & Aghion, Philippe, 2008. "Science, Technology and Innovation for Economic Growth: Linking Policy Research and Practice in "STIG Systems"," MPRA Paper 12096, University Library of Munich, Germany.
    20. Anil K Kashyap, 2008. "Comment on "Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?"," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 287-293, National Bureau of Economic Research, Inc.
    21. Irene Brunetti & Davide Fiaschi & Lisa Gianmoena & Angela Parenti, 2017. "Volatility in European regions," Papers in Regional Science, Wiley Blackwell, vol. 96(4), pages 697-720, November.
    22. Minica Mirela & Frant Florin, 2009. "Financial Globalisation," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 207-211, May.
    23. Harald Badinger, 2008. "Cyclical Fiscal Policy, Output Volatility, and Economic Growth," CESifo Working Paper Series 2268, CESifo.
    24. Coricelli Fabrizio & Karadimitropoulou Aikaterini E. & Leon-Ledesma Miguel A., 2016. "Reallocation effects of recessions and financial crises: an industry-level analysis," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(2), pages 485-522, June.
    25. Nicholas Bloom, 2007. "The Impact of Uncertainty Shocks," NBER Working Papers 13385, National Bureau of Economic Research, Inc.
    26. Nicolas Berman & Jérôme Héricourt, 2008. "Financial Factors and the Margins of Trade: Evidence from Cross-Country Firm-Level Data," Post-Print halshs-00321632, HAL.
    27. Dimitris Christopoulos & Miguel León-Ledesma, 2009. "Efficiency and frontier technology in the aftermath of recessions: international evidence," Studies in Economics 0922, School of Economics, University of Kent.
    28. Ricardo Ffrench-Davis, 2008. "From Financieristic To Real Macroeconomics: Seeking Development Convergence In Ees," Working Papers wp272, University of Chile, Department of Economics.
    29. Bruno Coric, 2011. "The financial accelerator effect: concept and challenges," Financial Theory and Practice, Institute of Public Finance, vol. 35(2), pages 171-196.
    30. Caterina Mendicino, 2006. "Credit Market and Macroeconomic Volatility," 2006 Meeting Papers 317, Society for Economic Dynamics.
    31. Kadri M�nnasoo & Jaanika Merikull, 2011. "R&D in boom and boost : evidence from the World Bank Financial Crisis Survey," Bank of Estonia Working Papers wp2011-07, Bank of Estonia, revised 13 Jul 2011.
    32. Frederick Van der Ploeg, 2010. "Natural Resources: Curse or Blessing?," CESifo Working Paper Series 3125, CESifo.
    33. Kunieda, Takuma, 2008. "Financial Globalization and Inequality," MPRA Paper 11343, University Library of Munich, Germany.
    34. Frederick van der Ploeg & Steven Poelhekke, 2007. "Volatility, Financial Development and the Natural Resource Curse," Economics Working Papers ECO2007/36, European University Institute.
    35. Martinsson, Gustav, 2009. "Are there Financial Constraints for Firms Investing in Skilled Employees?," Working Paper Series in Economics and Institutions of Innovation 169, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    36. Rose, Andrew & Spiegel, Mark, 2007. "International Financial Remoteness and Macroeconomic Volatility," CEPR Discussion Papers 6301, Centre for Economic Policy Research.
    37. Nicolas Berman & Antoine Berthou, 2006. "Financial market imperfections and the impact of exchange rate movements," Post-Print halshs-00118834, HAL.
    38. Sugata Marjit & Suryaprakash Mishra & Sanghita Mandal & Mayukh Basu, 2026. "Monetary Policy and Interest rate Volatility – The Role of Inequality and Imperfect Credit Market," CESifo Working Paper Series 12556, CESifo.
    39. Aghion, Philippe & Kharroubi, Enisse & Hémous, David, 2009. "Credit Constraints, Cyclical Fiscal Policy and Industry Growth," CEPR Discussion Papers 7359, Centre for Economic Policy Research.
    40. Ramirez-Rondán Nelson, 2007. "Nonlinear Volatility Effects on Growth in Developing Economies," Working Papers 2007-016, Banco Central de Reserva del Perú.
    41. Becerra, Oscar & Cavallo, Eduardo A. & Scartascini, Carlos, 2010. "The Politics of Financial Development: The Role of Interest Groups and Government Capabilities," IDB Publications (Working Papers) 1980, Inter-American Development Bank.
    42. Paunov, Caroline, 2012. "The global crisis and firms’ investments in innovation," Research Policy, Elsevier, vol. 41(1), pages 24-35.
    43. Aghion, Philippe & Marinescu, Ioana, 2007. "Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?," Scholarly Articles 3350066, Harvard University Department of Economics.
    44. Martinsson, Gustav, 2008. "The Impact of Firm Collateral on Knowledge Intensive Consulting Firms," Working Paper Series in Economics and Institutions of Innovation 135, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    45. Rafael Carranza, 2020. "Inequality of Outcomes, Inequality of Opportunity, and Economic Growth," Working Papers 534, ECINEQ, Society for the Study of Economic Inequality.
    46. Christoph Priesmeier & Nikolai Stähler, 2011. "Long Dark Shadows Or Innovative Spirits? The Effects Of (Smoothing) Business Cycles On Economic Growth: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 25(5), pages 898-912, December.
    47. Gnangnon, Sèna Kimm, 2023. "The Quality of Aid for Trade Flows and Economic Complexity," EconStor Preprints 271538, ZBW - Leibniz Information Centre for Economics.
    48. Saibal Ghosh, 2013. "The economics and politics of output volatility: evidence from Indian states," International Review of Applied Economics, Taylor & Francis Journals, vol. 27(1), pages 110-134, January.
    49. Óscar Afonso, 2026. "How monetary policy and institutions shape R&D: a dynamic general equilibrium approach," Economic Change and Restructuring, Springer, vol. 59(1), pages 1-28, February.
    50. Philippe Aghion & David Hemous & Enisse Kharroubi, 2011. "Cyclical fiscal policy, credit constraints, and industry growth," BIS Working Papers 340, Bank for International Settlements.
    51. Dabla-Norris, Era & Bal Gündüz, Yasemin, 2014. "Exogenous Shocks and Growth Crises in Low-Income Countries: A Vulnerability Index," World Development, Elsevier, vol. 59(C), pages 360-378.
    52. Fabrizio Coricelli & Aikaterini Karadimitropoulou & Miguel A. León-Ledesma, 2012. "A Disaggregate Characterisation of Recessions," Studies in Economics 1209, School of Economics, University of Kent.
    53. Min Ouyang, 2010. "Virtue of Bad Times and Financial Market Frictions," Working Papers 101103, University of California-Irvine, Department of Economics.
    54. Uluc Aysun & Zeynep Yom, 2019. "R&D, innovation spillover and business cycles," Villanova School of Business Department of Economics and Statistics Working Paper Series 43, Villanova School of Business Department of Economics and Statistics.
    55. Alberto Chong & Mark Gradstein, 2006. "Policy Volatility and Growth," Research Department Publications 4481, Inter-American Development Bank, Research Department.
    56. Jalles, João Tovar, 2018. "Fiscal rules and fiscal counter-cyclicality," Economics Letters, Elsevier, vol. 170(C), pages 159-162.
    57. Anuradha Seth & Amr Ragab, 2012. "Macroeconomic Vulnerability in Developing Countries: Approaches and Issues," Working Papers 94, International Policy Centre.
    58. Saswati Chakraborty & Oindrila Dey, 2025. "Access to credit: hindrance to technology transfer?," Indian Economic Review, Springer, vol. 60(1), pages 129-161, June.
    59. Oliver Williams & Stephen Satchell, 2011. "Social welfare issues of financial literacy and their implications for regulation," Journal of Regulatory Economics, Springer, vol. 40(1), pages 1-40, August.
    60. Martinsson, Gustav, 2008. "Firm Collateral and the Cyclicality of Knowledge Intensity," Working Paper Series in Economics and Institutions of Innovation 134, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    61. Kenza Benhima, 2012. "Exchange Rate Volatility and Productivity Growth: The Role of Liability Dollarization," Open Economies Review, Springer, vol. 23(3), pages 501-529, July.
    62. Hans van Ophem & Noud P.A. van Giersbergen & Kees Jan van Garderen & Maurice J.G. Bun, 2017. "The cyclicality of R&D investment revisited," UvA-Econometrics Working Papers 17-01, Universiteit van Amsterdam, Dept. of Econometrics.
    63. Kunieda, Takuma & Okada, Keisuke & Shibata, Akihisa, 2011. "Corruption, Globalization, and Economic Growth: Theory and Evidence," MPRA Paper 35355, University Library of Munich, Germany.
    64. Philip Arestis & John McCombie, 2009. "On The Effectiveness Of Fiscal Policy As An Instrument Of Macroeconomic Policy," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 77-79, March.
    65. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2008. "Schumpeter Meeting Keynes: A Policy-Friendly Model of Endogenous Growth and Business Cycles," LEM Papers Series 2008/21, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    66. Glüzmann, Pablo Alfredo & Levy-Yeyati, Eduardo & Sturzenegger, Federico, 2012. "Exchange rate undervaluation and economic growth: Díaz Alejandro (1965) revisited," Economics Letters, Elsevier, vol. 117(3), pages 666-672.
    67. Enisse Kharroubi & Philippe Aghion, 2008. "Cyclical Macro Policy and Industry Growth: The effect of counter-cyclical fiscal policy," 2008 Meeting Papers 837, Society for Economic Dynamics.
    68. Kunieda, Takuma & Shibata, Akihisa, 2011. "Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections," MPRA Paper 35698, University Library of Munich, Germany.
    69. Kunieda, Takuma & Shibata, Akihisa, 2012. "Financial Globalization and Animal Spirits," MPRA Paper 36123, University Library of Munich, Germany.
    70. Dilip Nachane & Amlendu Dubey, 2018. "India in the globalized economy : Growth spillovers & business cycle synchronization," International Economics and Economic Policy, Springer, vol. 15(1), pages 89-115, January.
    71. Carmignani, Fabrizio, 2010. "Cyclical fiscal policy in Africa," Journal of Policy Modeling, Elsevier, vol. 32(2), pages 254-267, March.
    72. Philippe Aghion & Diego Comin & Peter Howitt, 2006. "When Does Domestic Saving Matter for Economic Growth?," DEGIT Conference Papers c011_030, DEGIT, Dynamics, Economic Growth, and International Trade.
    73. Barbara Annicchiarico & Alessandra Pelloni, 2011. "Productivity Growth and Volatility: How Important are Wage and Price Rigidities?," CEIS Research Paper 211, Tor Vergata University, CEIS, revised 26 Sep 2011.
    74. Benhima Kenza, 2010. "Financial Development, Technological Change in Emerging Countries and Global Imbalances," Cahiers de Recherches Economiques du Département d'économie 10.10, Université de Lausanne, Faculté des HEC, Département d’économie.
    75. Gomes, Orlando, 2007. "Nonlinear dynamics in a model of financial development with a risk premium," MPRA Paper 2887, University Library of Munich, Germany.
    76. Pierre-Richard Agenor & Joshua Aizenman, 2007. "Aid Volatility and Poverty Traps," NBER Working Papers 13400, National Bureau of Economic Research, Inc.
    77. Penna, Christiano Modesto & Linhares, Fabricio Carneiro, 2013. "Há controvérsia entre análises de beta e sigma-convergência no Brasil?," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(1), April.
    78. Carnazza, Giovanni & Lanterna, Federica & Liberati, Paolo, 2025. "Does the European fiscal framework play a pivotal role in shaping fiscal cyclicality of the revenue side of the budget balance?," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 2162-2179.
    79. K C Neanidis & D Varvarigos, 2005. "The Impact of Foreign Aid on Economic Growth: Volatility of Disbursements and Distribution of Receipts," Centre for Growth and Business Cycle Research Discussion Paper Series 56, Economics, The University of Manchester.
    80. Ralitza Dimova, 2006. "The Impact of Labor Reallocation and Competitive Pressure on TFP Growth: Firm-level Evidence from Crisis and Transition Ridden Bulgaria," CEDI Discussion Paper Series 06-04, Centre for Economic Development and Institutions(CEDI), Brunel University.
    81. Kyriakos C. Neanidis & Dimitrios Varvarigos, 2005. "The Impact of Foreign Aid on Economic Growth: Volatility of Disbursements and Distribution of Receipts," Economics Discussion Paper Series 0533, Economics, The University of Manchester.
    82. Marjit, Sugata & Ray, Moushakhi, 2021. "Competition, asset build up and export incentives: The role of imperfect credit market," Journal of Asian Economics, Elsevier, vol. 77(C).
    83. Aadil Nakhoda, 2013. "Bank Competition and Export Diversification," EERI Research Paper Series EERI RP 2013/12, Economics and Econometrics Research Institute (EERI), Brussels.
    84. Morón, Eduardo & Salgado, Edgar & Seminario, Cristhian, 2012. "Financial Dependence, Formal Credit and Firm Informality: Evidence from Peruvian Household Data," IDB Publications (Working Papers) 3969, Inter-American Development Bank.
    85. Joël Cariolle & Michaël Goujon, 2015. "Measuring Macroeconomic Instability: A Critical Survey Illustrated With Exports Series," Journal of Economic Surveys, Wiley Blackwell, vol. 29(1), pages 1-26, February.
    86. Gilles Saint-Paul, 2009. "Le dollar, l’innovation et l’emploi," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 107-115.
    87. Jalles, João Tovar, 2020. "The volatility impact of social expenditure’s cyclicality in advanced economies," Economic Analysis and Policy, Elsevier, vol. 66(C), pages 26-40.
    88. Matthieu Lemoine & Christophe Mougin, 2010. "The Growth-Volatility Relationship: New Evidence Based on Stochastic Volatility in Mean Models," Working papers 285, Banque de France.
    89. Irina Peaucelle, 2006. "Economic development and restructuring: Look after Russian context," Working Papers halshs-00590427, HAL.
    90. Piero Ferri & Steve Fazzari & Edward Greenberg & Anna Variato, 2011. "Aggregate Demand, Harrod’s Instability and Fluctuations," Computational Economics, Springer;Society for Computational Economics, vol. 38(3), pages 209-220, October.
    91. Francois, Patrick & Lloyd-Ellis, 2006. "Intrinsic Business Cycles with Pro-Cyclical R&D," Queen's Economics Department Working Papers 273578, Queen's University - Department of Economics.
    92. James Tybout & Hale Utar & Eric Bond, 2009. "Credit Rationing, Risk Aversion and Industrial Evolution in Developing Countries," 2009 Meeting Papers 351, Society for Economic Dynamics.
    93. Nick Bloom, 2006. "The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation," CEP Discussion Papers dp0718, Centre for Economic Performance, LSE.
    94. Akyüz, Yılmaz., 2008. "Global rules and markets : constraints over policy autonomy in developing countries," ILO Working Papers 994204053402676, International Labour Organization.
    95. Ander Perez, 2010. "Credit Constraints, Firms' Precautionary Investment, and the Business Cycle," 2010 Meeting Papers 1004, Society for Economic Dynamics.
    96. Vyacheslav N. Ovchinnikov, 2020. "Nobel Prize in Economic Sciences 2019: Poverty Alleviation and Experiments in Development Economics," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 120-131, April.
    97. María Elisa Farías, 2008. "Growth and Volatility in Developing Countries: The Role of Credits and Fiscal Policy," Working Papers Central Bank of Chile 488, Central Bank of Chile.
    98. Joël CARIOLLE, 2012. "Mesurer l’instabilité macroéconomique - Applications aux données de recettes d’exportation, 1970-2005," Working Papers I14, FERDI.
    99. Kunieda, Takuma, 2008. "Finance and Growth Cycles," MPRA Paper 11340, University Library of Munich, Germany.
    100. Roman Frydman & Edmund S. Phelps, 2013. "Which Way Forward for Macroeconomics and Policy Analysis? [Rethinking Expectations: The Way Forward for Macroeconomics]," Introductory Chapters,, Princeton University Press.
    101. Thomas K.J. McDermott, "undated". "Disasters and Development: Natural Disasters, Credit Constraints and Economic Growth," The Institute for International Integration Studies Discussion Paper Series iiisdp363, IIIS.
    102. Schclarek, Alfredo, 2006. "Industry Diversification, Financial Development and Productivity-Enhancing Investments," Working Papers 2006:19, Lund University, Department of Economics.
    103. Piero Basaglia & Clara Berestycki & Stefano Carattini & Antoine Dechezleprêtre & Tobias Kruse, 2025. "Climate Policy Uncertainty and Firms' and Investors' Behavior," CESifo Working Paper Series 11782, CESifo.
    104. Marek Lubiński, 2012. "Wpływ akceleratora finansowego na przebieg wahań koniunkturalnych [ Impact of Financial Accelerator on Business Cycle Fluctuations ]," Prace i Materiały, Instytut Rozwoju Gospodarczego (SGH), vol. 88(1), pages 63-84.
    105. Galo Nuño, 2011. "Optimal research and development and the cost of business cycles," Journal of Economic Growth, Springer, vol. 16(3), pages 257-283, September.
    106. Pengfei Wang & Yi Wen, 2007. "Endogenous volatility, endogenous growth, and large welfare gains from stabilization policies," Working Papers 2006-032, Federal Reserve Bank of St. Louis.
    107. B. Gabriela Mundaca, 2009. "Remittances, Financial Market Development, and Economic Growth: The Case of Latin America and the Caribbean," Review of Development Economics, Wiley Blackwell, vol. 13(2), pages 288-303, May.
    108. Furceri, Davide & Karras, Georgios, 2007. "Country size and business cycle volatility: Scale really matters," Journal of the Japanese and International Economies, Elsevier, vol. 21(4), pages 424-434, December.
    109. Hausmann, Ricardo & Panizza, Ugo & Rigobon, Roberto, 2006. "The long-run volatility puzzle of the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 25(1), pages 93-124, February.
    110. Luisanna Onnis & Patrizio Tirelli, 2010. "Challenging the popular wisdom. New estimates of the unobserved economy," Working Papers 184, University of Milano-Bicocca, Department of Economics, revised Apr 2010.
    111. Nicolas Berman & Antoine Berthou, 2006. "Financial market imperfections and the impact of exchange rate movements on exports," Cahiers de la Maison des Sciences Economiques bla06055, Université Panthéon-Sorbonne (Paris 1).
    112. Gloria O. Dzeha & Joshua Abor & Festus Turkson & Elikplimi Agbloyor, 2018. "Technical Efficiency and Technical Change in Africa: The Role of Money from the Diasporas," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(7), pages 177-177, July.
    113. Zúñiga, Jimena & Capello, Marcelo & Butler, Inés & Grión, Nester, 2013. "A Cycle-Adjusted Fiscal Rule for Sustainable and More Equitable Growth in Argentina," IDB Publications (Working Papers) 4638, Inter-American Development Bank.
    114. Aleksander Berentsen & Mariana Rojas Breu & Shouyong Shi, 2009. "Liquidity, innovation and growth," IEW - Working Papers 441, Institute for Empirical Research in Economics - University of Zurich, revised Oct 2012.
    115. Rabah Arezki & Thorvaldur Gylfason, 2011. "Commodity Price Volatility, Democracy and Economic Growth," CESifo Working Paper Series 3619, CESifo.
    116. Benoit Dostie & Rajshri Jayaraman, 2013. "Do Higher Costs Spur Process Innovations and Managerial Incentives? Evidence from a Natural Experiment," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 22(3), pages 529-550, September.
    117. Afonso, António & Furceri, Davide, 2008. "Government size, composition, volatility and economic growth," Working Paper Series 849, European Central Bank.
    118. Yassine kirat, 2024. "Revisiting the resource curse: Does volatility matter?," Working Papers 2019.NN, FAERE - French Association of Environmental and Resource Economists.
    119. Ahmed, Khalid & Bhattacharya, Mita & Qazi, Ahmer Qasim & Long, Wei, 2016. "Energy consumption in China and underlying factors in a changing landscape: Empirical evidence since the reform period," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 224-234.
    120. Ms. Era Dabla-Norris & Yasemin Bal Gündüz, 2012. "Exogenous Shocks and Growth Crises in Low-Income Countries: A Vulnerability Index," IMF Working Papers 2012/264, International Monetary Fund.
    121. Grossmann, Axel & Orlov, Alexei G., 2022. "Exchange rate misalignments, capital flows and volatility," The North American Journal of Economics and Finance, Elsevier, vol. 60(C).
    122. Heng, Dyna & Corbett, Jenny, 2011. "What Drives Some Countries to Hoard Foreign Reserves?," MPRA Paper 48552, University Library of Munich, Germany, revised Oct 2011.
    123. José De Gregorio, 2007. "Algunas Reflexiones sobre el Crecimiento Económico en Chile," Economic Policy Papers Central Bank of Chile 20, Central Bank of Chile.
    124. Been-Lon Chen & Yeong-Yuh Chiang & Ping Wang, 2008. "Credit Market Imperfections and Long-Run Macroeconomic Consequences," Annals of Economics and Finance, Society for AEF, vol. 9(1), pages 151-175, May.
    125. Joël CARIOLLE, 2012. "Measuring macroeconomic volatility - Applications to export revenue data, 1970-2005," Working Papers I14, FERDI.
    126. Piyapas Tharavanij, 2007. "Capital Market And Business Cycle Volatility," Monash Economics Working Papers 33-07, Monash University, Department of Economics.
    127. Schiffbauer, Marc, 2006. "Theoretical and methodological study on the role of public policies in fostering innovation and growth," Papers DYNREG04, Economic and Social Research Institute (ESRI).
    128. Mr. Paolo Mauro & Mr. Torbjorn I. Becker, 2006. "Output Drops and the Shocks That Matter," IMF Working Papers 2006/172, International Monetary Fund.
    129. Min Ouyang, 2010. "Cyclical Persistence and the Cyclicality of R&D," Working Papers 101104, University of California-Irvine, Department of Economics, revised Mar 2011.
    130. Mundaca, Gabriela, 2017. "Energy subsidies, public investment and endogenous growth," Energy Policy, Elsevier, vol. 110(C), pages 693-709.
    131. Mr. Thierry Tressel & Mr. Alessandro Prati, 2006. "Aid Volatility and Dutch Disease: Is There a Role for Macroeconomic Policies?," IMF Working Papers 2006/145, International Monetary Fund.
    132. Carlos Esteban Posada & Camilo Morales J. & Andr�s Felipe Garc�a, 2007. "�La inestabilidad frena el crecimiento econ�mico?," Borradores de Economia 3814, Banco de la Republica.
    133. Patrick Francois & Huw Lloyd-Ellis, 2009. "Schumpeterian Business Cycles with Pro-Cyclical R&D," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 567-591, October.
    134. Joseph Davis & Marc D. Weidenmier, 2016. "America's First Great Moderation," NBER Working Papers 21856, National Bureau of Economic Research, Inc.
    135. Grossmann, Volker & Steger, Thomas M., 2007. "Growth, Development, and Technological Change," IZA Discussion Papers 2558, IZA Network @ LISER.
    136. Aurelijus Dabušinskas & Dmitry Kulikov & Martti Randveer, 2013. "The impact of volatility on economic growth," Bank of Estonia Working Papers wp2012-7, Bank of Estonia, revised 04 Feb 2013.
    137. Correa, Paulo & Andres, Luis & Borja-Vega, Christian, 2013. "The impact of government support on firm R&D investments : a meta-analysis," Policy Research Working Paper Series 6532, The World Bank.
    138. Gomes, Orlando, 2007. "Constraints on credit, consumer behaviour and the dynamics of wealth," MPRA Paper 2886, University Library of Munich, Germany.
    139. Letasi Iulai, 2014. "Aid Volatility: Is It a Problem in Tuvalu?," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(2), pages 379-394, May.
    140. Heinz Handler & Margit Schratzenstaller-Altzinger, 2006. "Teilstudie 7: Die Rolle des Staates," WIFO Studies, WIFO, number 27446.
    141. Li Junjiang & Hou Lei & Zhang Jiarui, 2011. "Capital endowment, credit constraint and FDI: Analysis based on heterogeneous firms," Frontiers of Economics in China, Springer;Higher Education Press, vol. 6(1), pages 55-75, March.
    142. Min Ouyang, 2007. "On the cyclicality of R&D: disaggregated evidence," Working Papers (Old Series) 0707, Federal Reserve Bank of Cleveland.
    143. Najia Saqib, 2015. "Review of Literature on Finance-Growth Nexus," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 5(4), pages 1-11.

  46. George-Marios Angeletos & Laurent-Emmanuel Calvet, 2005. "Incomplete Market Dynamics in a Neoclassical Production Economy," Harvard Institute of Economic Research Working Papers 2058, Harvard - Institute of Economic Research.

    Cited by:

    1. Nawaz, Nasreen, 2019. "Efficiency on the Dynamic Adjustment Path in a Financial Market," MPRA Paper 118271, University Library of Munich, Germany, revised 04 Jun 2020.
    2. Hoang Khieu & Klaus Wälde, 2019. "Capital Income Risk and the Dynamics of the Wealth Distribution," CESifo Working Paper Series 7970, CESifo.
    3. Ratbek Dzhumashev, 2007. "Corruption, Uncertainty And Growth," Monash Economics Working Papers 15-07, Monash University, Department of Economics.
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  48. George-Marios Angeletos, 2005. "Uninsured Idiosyncratic Investment Risk," NBER Working Papers 11180, National Bureau of Economic Research, Inc.

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    1. Ratbek Dzhumashev, 2007. "Corruption, Uncertainty And Growth," Monash Economics Working Papers 15-07, Monash University, Department of Economics.
    2. Fatih Guvenen, 2005. "Do Stockholders Share Risk More Effectively Than Non- stockholders?," Macroeconomics 0508006, University Library of Munich, Germany.
    3. Markus K. Brunnermeier & Thomas M. Eisenbach & Yuliy Sannikov, 2012. "Macroeconomics with Financial Frictions: A Survey," Levine's Working Paper Archive 786969000000000384, David K. Levine.
    4. Angeletos, George-Marios & Calvet, Laurent-Emmanuel, 2006. "Idiosyncratic production risk, growth and the business cycle," Journal of Monetary Economics, Elsevier, vol. 53(6), pages 1095-1115, September.
    5. sunanda roy, 2005. "Asset prices and capital accumulation in a monetary economy with incomplete markets," GE, Growth, Math methods 0508002, University Library of Munich, Germany.
    6. sunanda roy, 2007. "On price uncertainty, nominal assets and uninsurable idiosyncratic risks," Economics Bulletin, AccessEcon, vol. 4(32), pages 1-17.

  49. Alberto Alesina & George-Marios Angeletos, 2004. "Fairness and Redistribution," Levine's Bibliography 122247000000000283, UCLA Department of Economics.

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    1. Arnaud Lefranc & Nicolas Pistolesi & Alain Trannoy, 2006. "Equality of Opportunity: Definitions and Testable Conditions with an Application to Income in France," IDEP Working Papers 0609, Institut d'economie publique (IDEP), Marseille, France, revised 27 Sep 2006.
    2. Shuanglong Li & Yunsong Chen & Guangye He, 2019. "Mapping Public Concerns About Class Immobility in China," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 144(2), pages 745-765, July.
    3. Pfarr, Christian & Ulrich, Volker, 2011. "Discrete-Choice-Experimente zur Ermittlung der Präferenzen für Umverteilung [Discrete-Choice-Experiments to elicit individuals' preferences for redistribution]," MPRA Paper 31707, University Library of Munich, Germany.
    4. Alberto Alesina & Yann Algan & Pierre Cahuc & Paola Giuliano, 2015. "Family Values and the Regulation of Labor," Post-Print hal-03568223, HAL.
    5. Belguise, Margot & Chen, Nora Yuqian & Huang, Yuchen & Mo, Zhexun, 2025. "Reform windfall as redistribution: A survey experiment on redistributive preferences in contemporary China," European Journal of Political Economy, Elsevier, vol. 87(C).
    6. Beraldo, Sergio & Piacenza, Massimiliano & Turati, Gilberto, 2022. "The importance of the future when deciding levels of personal responsibility and demand for redistribution," Economic Modelling, Elsevier, vol. 116(C).
    7. Johanna Mollerstrom & David Seim, 2014. "Cognitive Ability and the Demand for Redistribution," PLOS ONE, Public Library of Science, vol. 9(10), pages 1-7, October.
    8. Kotsadam, Andreas & Somville, Vincent, 2024. "Wealth and charitable giving – Evidence from an Ethiopian lottery," Journal of Development Economics, Elsevier, vol. 167(C).
    9. David Hope & Julian Limberg & Nina Weber, 2023. "Technological Change, Task Complexity, and Preferences for Redistribution," ifo Working Paper Series 398, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    10. Kuhn, Andreas, 2009. "Demand for Redistribution, Support for the Welfare State, and Party Identification in Austria," IZA Discussion Papers 4449, IZA Network @ LISER.
    11. Bird, Richard M. & Zolt, Eric M., 2011. "Dual Income Taxation: A Promising Path to Tax Reform for Developing Countries," World Development, Elsevier, vol. 39(10), pages 1691-1703.
    12. Kuhn, Andreas, 2012. "Redistributive Preferences, Redistribution, and Inequality: Evidence from a Panel of OECD Countries," IZA Discussion Papers 6721, IZA Network @ LISER.
    13. Laurence Kranich & Matteo Cervellati & Joan Esteban, 2006. "The Social Contract with Endogenous Sentiments," Discussion Papers 06-06, University at Albany, SUNY, Department of Economics.
    14. Gunnthorsdottir, Anna & Thorsteinsson, Palmar, 2024. "Productivity or privilege: Game-theoretic and experimental models of social class," MPRA Paper 122275, University Library of Munich, Germany.
    15. María José Arteaga Garavito, 2016. "Justicia, Redistribución y Evasión Fiscal," Graduate theses (Spanish) TESG 005, CIDE, División de Economía.
    16. Stephan Schneider & Sven Kunze, 2021. "Disastrous Discretion: Ambiguous Decision Situations Foster Political Favoritism," KOF Working papers 21-491, KOF Swiss Economic Institute, ETH Zurich.
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    18. Jiménez-Jiménez, Natalia & Molis, Elena & Solano-García, Ángel, 2020. "The effect of initial inequality on meritocracy: A voting experiment on tax redistribution," Journal of Economic Behavior & Organization, Elsevier, vol. 175(C), pages 380-394.
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    23. Rosso, Anna, 2019. "Emigrant selection and wages: The case of Poland," Labour Economics, Elsevier, vol. 60(C), pages 148-175.
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    25. Drenik, Andres & Perez-Truglia, Ricardo, 2018. "Sympathy for the diligent and the demand for workfare," Journal of Economic Behavior & Organization, Elsevier, vol. 153(C), pages 77-102.
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    30. Eiji Yamamura, 2017. "Effect of Historical Educational Level on Perceived Inequality, Preference for Redistribution and Progressive Taxation," International Economic Journal, Taylor & Francis Journals, vol. 31(3), pages 355-369, July.
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    32. Gerard Domènech-Arumí, 2022. "Neighborhoods, Perceived Inequality, and Preferences for Redistribution :Evidence from Barcelona," Working Papers ECARES 2022-09, ULB -- Universite Libre de Bruxelles.
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    35. Sharon G. M. Goh & Grace H.Y. Lee & Eduard Bomhoff, 2016. "The Dynamics of Public Opinion towards Inequality in Malaysia," Monash Economics Working Papers 02-16, Monash University, Department of Economics.
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    42. Alberto Alesina & Guido Cozzi & Noemi Mantovan, 2012. "The Evolution of Ideology, Fairness and Redistribution," Economic Journal, Royal Economic Society, vol. 122(565), pages 1244-1261, December.
    43. Alberto Montagnoli & Mirko Moro & Robert Wright, 2016. "Financial literacy and attitudes to redistribution," Working Papers 1605, University of Strathclyde Business School, Department of Economics.
    44. Klaus Gründler & Sebastian Köllner, 2018. "Culture, Diversity, and the Welfare State," CESifo Working Paper Series 6856, CESifo.
    45. Gonnot, Jérôme, 2022. "Taxation with representation: Understanding natives’ attitudes to foreigners’ voting rights," European Journal of Political Economy, Elsevier, vol. 71(C).
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    47. Judith Niehues & Andreas Peichl, 2011. "Lower and Upper Bounds of Unfair Inequality: Theory and Evidence for Germany and the US," SOEPpapers on Multidisciplinary Panel Data Research 395, DIW Berlin, The German Socio-Economic Panel (SOEP).
    48. Andreas Kuhn, 2009. "In the Eye of the Beholder: Subjective Inequality Measures and the Demand for Redistribution," NRN working papers 2009-14, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    49. Alexander Cappelen & Yiming Liu & Hedda Nielsen & Bertil Tungodden, 2024. "Fairness in a Society of Unequal Opportunities," Rationality and Competition Discussion Paper Series 506, CRC TRR 190 Rationality and Competition.
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    52. François Bourguignon & Francisco Ferreira & Phillippe Leite, 2008. "Beyond Oaxaca–Blinder: Accounting for differences in household income distributions," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 6(2), pages 117-148, June.
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    83. Osterloh, Steffen & Heinemann, Friedrich, 2013. "The political economy of corporate tax harmonization — Why do European politicians (dis)like minimum tax rates?," European Journal of Political Economy, Elsevier, vol. 29(C), pages 18-37.
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    685. Roberto Antonietti & Francesco Farina & Fulvio Fontini, 2016. "A Rational Explanation for the Redistribution Paradox. Theory and Empirical Evidence," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(5), pages 539-555, November.
    686. Angélica Sánchez & Thomas Goda, 2018. "Corruption and the ‘Paradox of Redistribution’," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 140(2), pages 675-693, November.
    687. Ke Na & Terry Shevlin & Danqing Wang & Wenjia Yan, 2026. "Politicians’ Ideology, State Intervention, and Corporate Taxation," Management Science, INFORMS, vol. 72(3), pages 2497-2524, March.
    688. Allen, Jeffrey & Chakraborty, Shankha, 2022. "Inequality and the Ability to Aspire," Journal of Economic Behavior & Organization, Elsevier, vol. 203(C), pages 264-283.
    689. John E. Roemer & Alain Trannoy, 2014. "Equality of Opportunity," Levine's Working Paper Archive 786969000000000914, David K. Levine.
    690. Nisvan Erkal & Lata Gangadharan & Nikos Nikiforakis, 2009. "Relative Earnings and Giving in a Real-Effort Experiment," Department of Economics - Working Papers Series 1067, The University of Melbourne.
    691. Hans Grüner, 2009. "Inequality and Political Consensus," Theory and Decision, Springer, vol. 67(3), pages 239-265, September.
    692. Eiji Yamamura, 2014. "Comparing the influence of conflict on the perceptions of rich and poor: testing the hypothesis of Acemoglu and Robinson," ISER Discussion Paper 0911, Institute of Social and Economic Research, The University of Osaka.
    693. Yanos Zylberberg, 2010. "Do tropical typhoons smash community ties? Theory and evidence from Vietnam," Working Papers halshs-00564941, HAL.
    694. Denisova, I., 2013. "Inequality, Institutions, and Demand for Income Redistribution: Evidence from Public Surveys in Post-Communist Countries," Journal of the New Economic Association, New Economic Association, vol. 18(2), pages 172-177.
    695. Yong Tao, 2016. "Spontaneous economic order," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 467-500, July.
    696. Tetteh-Baah, Samuel Kofi & Günther, Isabel, 2020. "The impact of gender and ethnic discrimination on redistribution and productivity," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224633, Verein für Socialpolitik / German Economic Association.
    697. Belguise, Margot & Chen, Nora Yuqian & Huang, Yuchen & Zhexun Mo, Zhenxun, 2024. "Reform Windfall as Redistribution : A Survey Experiment on Redistributive Preferences in Contemporary China," The Warwick Economics Research Paper Series (TWERPS) 1532, University of Warwick, Department of Economics.
    698. Edwin Ip & Andreas Leibbrandt & Joseph Vecci, 2018. "How Do Gender Quotas Affect Hierarchical Relationships? Complementary Evidence from a Respresentative Survey and Labor Market Experiments," CESifo Working Paper Series 6915, CESifo.
    699. Gonnot, Jérôme, 2020. "Taxation with Representation: The Political Economy of Foreigners’ Voting Rights," TSE Working Papers 20-1077, Toulouse School of Economics (TSE).
    700. LONG, Ngo van & STÄHLER, Frank, 2010. "Should the Good and the Selfish be Taxed Differently?," Cahiers de recherche 07-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.

  50. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2004. "Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change," NBER Working Papers 11017, National Bureau of Economic Research, Inc.

    Cited by:

    1. Stephen Morris & Hyun Song Shin, 2006. "Endogenous Public Signals and Coordination," Levine's Bibliography 122247000000001309, UCLA Department of Economics.
    2. Christian Hellwig & Arijit Mukherji & Aleh Tsyvinski, 2005. "Self-Fulfilling Currency Crises: The Role of Interest Rates," NBER Working Papers 11191, National Bureau of Economic Research, Inc.
    3. Christian Hellwig, 2004. "Self-Fulfilling Currency Crises: The Role of Interest Rates (A.E.R., December 2006)," UCLA Economics Online Papers 338, UCLA Department of Economics.
    4. Jakub Steiner, 2006. "Coordination in a Mobile World," CERGE-EI Working Papers wp295, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    5. George-Marios Angeletos & Ivan Werning, 2004. "Crises and Prices: Information Aggregation, Multiplicity and Volatility," NBER Working Papers 11015, National Bureau of Economic Research, Inc.

  51. Geore-Marios Angeletos & Alessandro Pavan, 2004. "Transparency of Information and Coordination in Economies with Investment Complementarities," Levine's Bibliography 122247000000000289, UCLA Department of Economics.

    Cited by:

    1. Camille Cornand & Frank Heinemann, 2010. "Measuring Agents' Reaction to Private and Public Information in Games with Strategic Complementarities," CESifo Working Paper Series 2947, CESifo.
    2. Christoph Bertsch & Isaiah Hull & Xin Zhang, 2021. "Monetary Normalizations and Consumer Credit: Evidence from Fed Liftoff and Online Lending," International Journal of Central Banking, International Journal of Central Banking, vol. 17(71), pages 1-47, December.
    3. Qi Chen & Tracy R. Lewis & Katherine Schipper & Yun Zhang, 2017. "Uniform Versus Discretionary Regimes in Reporting Information with Unverifiable Precision and a Coordination Role," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 153-196, March.
    4. Bag, Parimal Kanti & Pepito, Nona, 2011. "Double-edged transparency in teams," Journal of Public Economics, Elsevier, vol. 95(7), pages 531-542.
    5. Mei Li, 2007. "Investment Complementarities, Coordination Failure And Systemic Bankruptcy," Working Paper 1149, Economics Department, Queen's University.
    6. Ted Temzelides & Cyril Monnet & Marie Hoerova, 2008. "Public Information and Monetary Policy," 2008 Meeting Papers 5, Society for Economic Dynamics.
    7. Guido Lorenzoni & George-Marios Angeletos, 2010. "Price Making Intermediation," 2010 Meeting Papers 963, Society for Economic Dynamics.
    8. Cornand, Camille & Heinemann, Frank, 2006. "Optimal Degree of Public Information Dissemination," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 158, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    9. Pavan, Alessandro, 2025. "Attention, coordination, and bounded recall," Journal of Economic Theory, Elsevier, vol. 227(C).
    10. Trabelsi, Emna, 2010. "Central bank communication: fragmentation as an engine for limiting the publicity degree of information," MPRA Paper 26647, University Library of Munich, Germany.
    11. Moreno, Diego & Takalo, Tuomas, 2012. "Optimal bank transparency," Bank of Finland Research Discussion Papers 9/2012, Bank of Finland.
    12. Gobbi, Alessandro & Grazzini, Jakob, 2019. "A basic New Keynesian DSGE model with dispersed information: An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 101-116.
    13. Ryan Chahrour, 2012. "Public Communication and Information Acquisition," Boston College Working Papers in Economics 803, Boston College Department of Economics.
    14. Jalali-Naini, Ahmad-Reza & Naderian, Mohammad-Amin, 2014. "Social Value of Information and Optimal Communication Policy of Central Banks," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(3), pages 31-57, April.
    15. Parlatore, Cecilia, 2024. "Transparency and bank runs," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    16. Binz, Oliver & Mayew, William J. & Nallareddy, Suresh, 2022. "Firms’ response to macroeconomic estimation errors," Journal of Accounting and Economics, Elsevier, vol. 73(2).
    17. José Jorge & Joana Rocha, 2020. "Agglomeration and Industry Spillover Effects in the Aftermath of a Credit Shock," International Journal of Central Banking, International Journal of Central Banking, vol. 16(3), pages 1-50, June.
    18. Ruiz-Buforn, Alba & Alfarano, Simone & Camacho-Cuena, Eva & Morone, Andrea, 2020. "Single vs. multiple disclosures in an experimental asset market with information acquisition," MPRA Paper 101035, University Library of Munich, Germany.
    19. Hennessy, David A., 2007. "Coordinating to Eradicate Animal Disease, and the Role of Insurance Markets," Hebrew University of Jerusalem Archive 7702, Hebrew University of Jerusalem.
    20. Christian Hellwig, 2004. "Heterogeneous Information and the Benefits of Public Information Disclosures (October 2005)," UCLA Economics Online Papers 283, UCLA Department of Economics.
    21. Romain Baeriswyl & Camille Cornand, 2011. "Reducing overreaction to central banks’ disclosures : theory and experiment," Working Papers 1141, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    22. Lustenberger, Thomas & Rossi, Enzo, 2018. "The Social Value of Information: A Test of a Beauty and Non-Beauty Contest," Working papers 2018/05, Faculty of Business and Economics - University of Basel.
    23. Hiroki Arato & Takeo Hori & Tomoya Nakamura, 2014. "Endogenous Information Acquisition and the Partial Announcement Policy," ISER Discussion Paper 0892r, Institute of Social and Economic Research, The University of Osaka, revised Apr 2014.
    24. Cukierman, Alex, 2007. "The Limits of Transparency," CEPR Discussion Papers 6475, Centre for Economic Policy Research.
    25. Meixing Dai & Moïse Sidiropoulos, 2017. "How multiplicative uncertainty affects the tradeoff between information disclosure and stabilisation policy?," Working Papers of BETA 2017-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    26. Antonio Jiménez-Martínez, 2014. "Information acquisition interactions in two-player quadratic games," International Journal of Game Theory, Springer;Game Theory Society, vol. 43(2), pages 455-485, May.
    27. Mankiw, N. Gregory & Reis, Ricardo, 2010. "Imperfect Information and Aggregate Supply," Scholarly Articles 33907956, Harvard University Department of Economics.
    28. Thomas, Caroline, 2019. "Experimentation with reputation concerns – Dynamic signalling with changing types," Journal of Economic Theory, Elsevier, vol. 179(C), pages 366-415.
    29. José Jorge & Joana Rocha, 2015. "A Primer On Global Games Applied To Macroeconomics And Finance," Journal of Economic Surveys, Wiley Blackwell, vol. 29(5), pages 869-886, December.
    30. Davide Bosco & Luca Portoghese, 2024. "Complementarity, Congestion and Information Design in Epidemics with Strategic Social Behaviour," DEM Working Papers Series 218, University of Pavia, Department of Economics and Management.
    31. Lu, Tong & Ruan, Lijun, 2024. "Coordination and Conservatism," Finance Research Letters, Elsevier, vol. 61(C).
    32. Hoerova, Marie & Monnet, Cyril & Temzelides, Ted, 2012. "Money talks," Economics Letters, Elsevier, vol. 116(3), pages 617-621.
    33. Liyan Yang & Itay Goldstein, 2014. "Good Disclosure, Bad Disclosure," 2014 Meeting Papers 42, Society for Economic Dynamics.
    34. Zhenyu Gao & Michael Sockin & Wei Xiong, 2020. "Learning about the Neighborhood," NBER Working Papers 26907, National Bureau of Economic Research, Inc.
    35. Mäkinen, Taneli & Ohl, Björn, 2015. "Information acquisition and learning from prices over the business cycle," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 585-633.
    36. Michael Woodford, 2005. "Central Bank Communication and Policy Effectiveness," NBER Working Papers 11898, National Bureau of Economic Research, Inc.
    37. Torun Dewan & David P Myatt, 2012. "On the rhetorical strategies of leaders: Speaking clearly, standing back, and stepping down," Journal of Theoretical Politics, , vol. 24(4), pages 431-460, October.
    38. Jean-Pierre Allegret & Camille Cornand, 2005. "The Pros and Cons of Higher Transparency: The Case of Speculative Attacks," Working Papers 0502, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    39. Kohei Kawamura & Vasileios Vlaseros, 2015. "Expert Information and Majority Decisions," Edinburgh School of Economics Discussion Paper Series 261, Edinburgh School of Economics, University of Edinburgh.
    40. Grout, Paul A. & Mitraille, Sébastien & Sonderegger, Silvia, 2015. "The costs and benefits of coordinating with a different group," Journal of Economic Theory, Elsevier, vol. 160(C), pages 517-535.
    41. Gu, Jiadong, 2023. "Optimal stress tests and liquidation cost," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    42. Guimaraes, Bernardo & Machado, Caio & Ribeiro, Marcel, 2014. "A model of the confidence channel of fiscal policy," LSE Research Online Documents on Economics 86331, London School of Economics and Political Science, LSE Library.
    43. Nicholas Apergis & Alexandros Panethimitakis, 2011. "Stylised facts of Greek business cycles: new evidence from aggregate and across regimes data," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 3(2), pages 147-165.
    44. Muendler, Marc-Andreas, 2005. "Rational Transparency Choice in Financial Market Equilibrium¤," University of California at San Diego, Economics Working Paper Series qt73h8z1hd, Department of Economics, UC San Diego.
    45. Pignataro, Giuseppe & Raggi, Davide & Pancotto, Francesca, 2024. "On the role of fundamentals, private signals, and beauty contests to predict exchange rates," International Journal of Forecasting, Elsevier, vol. 40(2), pages 687-705.
    46. Antonio Jiménez-Martínez, 2016. "On Efficient Information Aggregation Networks," Working Papers DTE 601, CIDE, División de Economía.
    47. Rigos, Alexandros, 2018. "The Normality Assumption in Coordination Games with Flexible Information Acquisition," Working Papers 2018:30, Lund University, Department of Economics, revised 17 Mar 2022.
    48. Emna Trabelsi & Walid Hichri, 2013. "Central bank Transparency and Information Dissemination : An experimental Approach," Working Papers 1336, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    49. Hiroki Arato & Tomoya Nakamura, 2013. "Endogenous Alleviation of Overreaction Problem by Aggregate Information Announcement," The Japanese Economic Review, Japanese Economic Association, vol. 64(3), pages 319-336, September.
    50. Laura Veldkamp, 2004. "Information Markets and the Comovement of Asset Prices," Working Papers 04-18, New York University, Leonard N. Stern School of Business, Department of Economics.
    51. Colombo, Luca & Femminis, Gianluca, 2014. "Optimal policy intervention, constrained obfuscation and the social value of public information," Economics Letters, Elsevier, vol. 123(2), pages 224-226.
    52. Gick, Wolfgang & Pausch, Thilo, 2013. "Bayesian Persuasion By Stress Test Disclosure," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79913, Verein für Socialpolitik / German Economic Association.
    53. Stephen Morris & Hyun Song Shin & Hui Tong, 2006. "Social Value of Public Information: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con: Reply," American Economic Review, American Economic Association, vol. 96(1), pages 453-455, March.
    54. Jakob Grazzini & Domenico Massaro, 2016. "Dispersed Information and the Origins of Aggregate Fluctuations," CESifo Working Paper Series 5957, CESifo.
    55. Toygar T. Kerman & Anastas P. Tenev & Konstantin Zabarnyi, 2025. "Persuasion Gains and Losses from Peer Communication," Papers 2509.09099, arXiv.org.
    56. Camille Cornand & Romain Baeriswyl, 2014. "The predominant role of signal precision in experimental beauty contests," Working Papers 1441, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    57. David P. Myatt & Torun Dewan, 2007. "The Qualities of Leadership: Direction, Communication, and Obfuscation," Economics Series Working Papers 311, University of Oxford, Department of Economics.
    58. Chang, Dongkyu & Vong, Allen, 2025. "Perverse ethical concerns: Misinformation and coordination," Journal of Economic Theory, Elsevier, vol. 226(C).
    59. Ruiz-Buforn, Alba & Camacho-Cuena, Eva & Morone, Andrea & Alfarano, Simone, 2020. "Overweighting of public information in financial markets: A lesson from the lab," MPRA Paper 98472, University Library of Munich, Germany.
    60. Takashi Ui, 2022. "Optimal and Robust Disclosure of Public Information," Papers 2203.16809, arXiv.org, revised Apr 2022.
    61. Giuseppe Pignataro & Giovanni Prarolo, 2020. "Learning, proximity and voting: theory and empirical evidence from nuclear referenda," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(1), pages 117-147, June.
    62. Andrew Williams, 2014. "The effect of transparency on output volatility," Economics of Governance, Springer, vol. 15(2), pages 101-129, May.
    63. Heinemann, Frank, 2024. "An experimental test of the global-game selection in coordination games with asymmetric players," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 632-656.
    64. Mei Li, 2007. "Coordination Failure In Technological Progress, Economic Growth And Volatility," Working Paper 1147, Economics Department, Queen's University.
    65. Leonardo Melosi, 2012. "Signaling effects of monetary policy," Working Paper Series WP-2012-05, Federal Reserve Bank of Chicago.
    66. Kawamura, Kohei & Vlaseros, Vasileios, 2017. "Expert information and majority decisions," Journal of Public Economics, Elsevier, vol. 147(C), pages 77-88.
    67. Michal Szkup & Isabel Trevino, 2026. "Selection through information acquisition in coordination games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 81(1), pages 113-148, February.
    68. Silvia Sonderegger, 2010. "Centralized Or Decentralized Information: Which Is Better For Providing Incentives?," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 290-305, April.
    69. Luca Colombo & Gianluca Femminis, 2007. "The Social Value of Public Information with Costly Information Acquisition," DISCE - Quaderni dell'Istituto di Economia e Finanza ief0073, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    70. Antonio Jimenez-Martinez, 2017. "On Information Aggregation and Interim Efficiency in Networks," Games, MDPI, vol. 8(1), pages 1-14, February.
    71. Moez Bennouri & C. Clark & Jacques Robert, 2010. "Information provision in financial markets," Annals of Finance, Springer, vol. 6(2), pages 255-286, March.
    72. Forssbaeck, Jens & Oxel, Lars, 2014. "The Multi-Faceted Concept of Transparency," Working Paper Series 1013, Research Institute of Industrial Economics.
    73. David P. Myatt & Chris Wallace, 2008. "On the Sources and Value of Information: Public Announcements and Macroeconomic Performance," Economics Series Working Papers 411, University of Oxford, Department of Economics.
    74. Tutino, Antonella, 2008. "The rigidity of choice: lifetime savings under information-processing constraints," MPRA Paper 16744, University Library of Munich, Germany, revised 24 Jul 2009.
    75. Christian Hellwig, 2005. "Knowing What Others Know: Coordination Motives in Information Acquisition (March 2007, with Laura Veldkamp)," UCLA Economics Online Papers 369, UCLA Department of Economics.
    76. Jean-Marc Bourgeon, 2025. "Optimal Green Technology Adoption and Policy Implementation," Working Papers hal-02799535, HAL.
    77. Chiquiar Daniel & Ramos Francia Manuel, 2009. "Competitiveness and Growth of the Mexican Economy," Working Papers 2009-11, Banco de México.
    78. Lars E. O. Svensson, 2006. "Social Value of Public Information: Comment: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con," American Economic Review, American Economic Association, vol. 96(1), pages 448-452, March.
    79. Iachan, Felipe S. & Nenov, Plamen T., 2015. "Information quality and crises in regime-change games," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 739-768.
    80. Keeyoung Rhee & Myungkyu Shim & Ji Zhang, 2021. "State-Promoted Investment for Industrial Reforms: an Information Design Approach," Papers 2105.09576, arXiv.org.
    81. Gaoqing Zhang, 2021. "Competition and Opacity in the Financial System," Management Science, INFORMS, vol. 67(3), pages 1895-1913, March.
    82. Emna JABALLAH & Wided YOUSFI & Mohamed Ali ZARAI, 2014. "Quality of financial reports: Evidence from the Tunisian firms," E3 Journal of Business Management and Economics., E3 Journals, vol. 5(2), pages 030-038.
    83. Christian Hellwig, "undated". "Monetary Business Cycle Models: Imperfect Information (Review Article, March 2006)," UCLA Economics Online Papers 377, UCLA Department of Economics.
    84. Alfarano, Simone & Camacho, Eva & Petrovic, Marko & Provenzano, Giulia, 2014. "The Interplay between Public and Private Information in Asset Markets: Theoretical and Experimental Approaches," FinMaP-Working Papers 9, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    85. Li, Mei, 2007. "Investment Complementarities, Coordination Failure and Systemic Bankruptcyd’," Queen's Economics Department Working Papers 273625, Queen's University - Department of Economics.
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    87. Christian Hellwig, 2010. "Comment on "Noisy Business Cycles"," NBER Chapters, in: NBER Macroeconomics Annual 2009, Volume 24, pages 379-394, National Bureau of Economic Research, Inc.
    88. George-Marios Angeletos & Alessandro Pavan, 2006. "Socially Optimal Coordination: Characterization and Policy Implications," NBER Working Papers 12778, National Bureau of Economic Research, Inc.
    89. Hiroaki Sakamoto, 2014. "Public Bads, Heterogeneous Beliefs, and the Value of Information," Discussion papers e-13-009, Graduate School of Economics Project Center, Kyoto University.
    90. Lukyanov, Georgy & Shamruk, Konstantin & Su, Tong & Wakrim, Ahmed, 2022. "Public communication with externalities," Games and Economic Behavior, Elsevier, vol. 136(C), pages 177-196.
    91. Williams, Andrew, 2015. "A global index of information transparency and accountability," Journal of Comparative Economics, Elsevier, vol. 43(3), pages 804-824.
    92. Veldkamp, Laura, 2006. "Uncertainty, policy ineffectiveness and long stagnation of the macroeconomy," Japan and the World Economy, Elsevier, vol. 18(3), pages 273-277, August.
    93. Augustin Landier & David Thesmar, 2011. "Regulating Systemic Risk through Transparency: Trade-Offs in Making Data Public," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 31-44, National Bureau of Economic Research, Inc.
    94. Elnaboulsi, J.C. & Daher, W. & Sağlam, Y., 2018. "On the social value of publicly disclosed information and environmental regulation," Resource and Energy Economics, Elsevier, vol. 54(C), pages 1-22.
    95. Francesca Pancotto & Giuseppe Pignataro & Davide Raggi, 2015. "Social Learning and Higher Order Beliefs: A Structural Model of Exchange Rates Dynamics," LEM Papers Series 2015/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    96. Muendler, Marc-Andreas, 2005. "The Action Value of Information and the Natural Transparency Limit¤," University of California at San Diego, Economics Working Paper Series qt6qb079x5, Department of Economics, UC San Diego.
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    1. Gary B. Gorton, 2012. "Some Reflections on the Recent Financial Crisis," NBER Working Papers 18397, National Bureau of Economic Research, Inc.
    2. Ryuichiro Izumi & Antonis Kotidis & Paul E. Soto, 2024. "Trademarks in Banking," Finance and Economics Discussion Series 2024-044, Board of Governors of the Federal Reserve System (U.S.).
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    146. Assaf Razin & Itay Goldstein, 2012. "Review Of Theories of Financial Crises," 2012 Meeting Papers 214, Society for Economic Dynamics.
    147. Wolfgang Kuhle, 2024. "The inflation game," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 53(1), February.
    148. Dengwei Qi, 2022. "Learning and Strategic Delay in a Dynamic Coordination Game," KIER Working Papers 1087, Kyoto University, Institute of Economic Research.
    149. Beckmann, Joscha & Kerkemeier, Marco & Kruse-Becher, Robinson, 2025. "Regime-specific exchange rate predictability," Journal of Economic Dynamics and Control, Elsevier, vol. 176(C).
    150. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
    151. Mordecai Kurz, 2007. "Rational Diverse Beliefs and Economic Volatility," Discussion Papers 06-045, Stanford Institute for Economic Policy Research.
    152. Jean-Marc Bourgeon & Margot Hovsepian, 2018. "Green Technology Adoption and the Business Cycle," Working Papers hal-01508534, HAL.
    153. Nakata, Takeshi, 2010. "Interdependent bank runs under a collapsing fixed exchange rate regime," Journal of the Japanese and International Economies, Elsevier, vol. 24(4), pages 603-623, December.
    154. Chris Edmond, 2011. "Information Manipulation, Coordination, and Regime Change," Department of Economics - Working Papers Series 1125, The University of Melbourne.
    155. Dominik Grafenhofer & Wolgang Kuhle, 2014. "Observing Each Other's Observations in the Electronic Mail Game," Papers 1501.00882, arXiv.org.
    156. Jonathan J Adams, 2019. "Macroeconomic Models with Incomplete Information and Endogenous Signals," Working Papers 001004, University of Florida, Department of Economics.
    157. Guimaraes, Bernardo & Morris, Stephen, 2007. "Risk and wealth in a model of self-fulfilling currency attacks," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2205-2230, November.
    158. George-Marios Angeletos, 2008. "Private Sunspots and Idiosyncratic Investor Sentiment," NBER Working Papers 14015, National Bureau of Economic Research, Inc.
    159. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    160. Wolfgang Kuhle, 2024. "Information Aggregation in Markets with Analysts, Experts, and Chatbots," Papers 2411.01938, arXiv.org.
    161. Gao, Pingyang & Jiang, Xu & Lu, Jinzhi, 2025. "Manipulation, panic runs, and the short selling ban," Journal of Economic Theory, Elsevier, vol. 223(C).
    162. Xue-Zhong He & Lei Shi, 2010. "Differences in Opinion and Risk Premium," Research Paper Series 271, Quantitative Finance Research Centre, University of Technology, Sydney.
    163. Anat R. Admati & Peter M. DeMarzo & Martin F. Hellwig & Paul Pfleiderer, 2013. "Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Socially Expensive," Discussion Paper Series of the Max Planck Institute for Behavioral Economics 2013_23, Max Planck Institute for Behavioral Economics.
    164. Michele Berardi, 2015. "Prices, fundamental values and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 214, Economics, The University of Manchester.
    165. Qi, Dengwei, 2025. "The rates of learning with public and private signals," Mathematical Social Sciences, Elsevier, vol. 136(C).
    166. George-Marios Angeletos & Alessandro Pavan, 2005. "Efficiency and Welfare with Complementarities and Asymmetric Information," NBER Working Papers 11826, National Bureau of Economic Research, Inc.
    167. Kei Kawakami, 2015. "Market Size Matters:A Model of Excess Volatility in Large Markets," Department of Economics - Working Papers Series 2003, The University of Melbourne.
    168. Toni Ahnert, 2014. "Rollover Risk, Liquidity and Macroprudential Regulation," Staff Working Papers 14-23, Bank of Canada.
    169. Frankel, David M., 2017. "Efficient ex-ante stabilization of firms," Journal of Economic Theory, Elsevier, vol. 170(C), pages 112-144.
    170. Inchauspe, Julian, 2008. "Modeling currency instability: The 1997 Asian crisis re-examined," MPRA Paper 93050, University Library of Munich, Germany.
    171. Waldyr Areosa & Marta Areosa, 2012. "Information (in) Chains: information transmission through production chains," Working Papers Series 286, Central Bank of Brazil, Research Department.
    172. Xin Wang & Soo-Haeng Cho & Alan Scheller-Wolf, 2021. "Green Technology Development and Adoption: Competition, Regulation, and Uncertainty—A Global Game Approach," Management Science, INFORMS, vol. 67(1), pages 201-219, January.

  53. A. Pavan & G.M. Angeletos & C. Hellwig, 2004. "On the Dynamics of Information, Coordination and Regime Change," 2004 Meeting Papers 270, Society for Economic Dynamics.

    Cited by:

    1. Fernando Broner, 2015. "Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises," Working Papers 186, Barcelona School of Economics.
    2. Gilboa, Itzhak & Argenziano, Rossella, 2006. "History as a Coordination Device," Foerder Institute for Economic Research Working Papers 275700, Tel-Aviv University > Foerder Institute for Economic Research.

  54. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2004. "Coordination and Policy Traps," Levine's Bibliography 122247000000000294, UCLA Department of Economics.

    Cited by:

    1. Geore-Marios Angeletos & Alessandro Pavan, 2004. "Transparency of Information and Coordination in Economies with Investment Complementarities," Levine's Bibliography 122247000000000289, UCLA Department of Economics.
    2. Mark A. Carlson & Galina B. Hale, 2005. "Courage to Capital? A Model of the Effects of Rating Agencies on Sovereign Debt Role-over," Cowles Foundation Discussion Papers 1506, Cowles Foundation for Research in Economics, Yale University.
    3. Stephen Morris & Hyun Song Shin, 2006. "Endogenous Public Signals and Coordination," Levine's Bibliography 122247000000001309, UCLA Department of Economics.
    4. Prati, Alessandro & Sbracia, Massimo, 2010. "Uncertainty and Currency Crises: Evidence from Survey Data," MPRA Paper 21209, University Library of Munich, Germany.
    5. Christian Hellwig, "undated". "Policy in a Global Coordination Game: Multiplicity vs. Robust Predictions (November 2006, with Marios Angeletos and Alessandro Pavan)," UCLA Economics Online Papers 401, UCLA Department of Economics.
    6. Bernardo Guimaraes & Stephen Morris, 2005. "Risk and Wealth in a Model of Self-Fulfilling Currency Attacks," Levine's Bibliography 122247000000000790, UCLA Department of Economics.
    7. Bernardo Guimaraes & Stephen Morris, 2003. "Risk and Wealth in a Model of Self-fulfilling Currency Crises," Cowles Foundation Discussion Papers 1433R, Cowles Foundation for Research in Economics, Yale University, revised Oct 2004.
    8. Christian Hellwig, 2004. "Heterogeneous Information and the Benefits of Public Information Disclosures (October 2005)," UCLA Economics Online Papers 283, UCLA Department of Economics.
    9. Dasgupta, Amil, 2007. "Coordination and delay in global games," Journal of Economic Theory, Elsevier, vol. 134(1), pages 195-225, May.
    10. Englmaier, Florian & Reisinger, Markus, 2006. "Information, Coordination, and the Industrialization of Countries," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 87, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    11. Karp, L & Perloff, Jeffrey M, 2005. "When promoters like scalpers," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt2wp8m52z, Department of Agricultural & Resource Economics, UC Berkeley.
    12. Guillermo Ordoñez, 2009. "Fragility of reputation and clustering of risk-taking," Staff Report 431, Federal Reserve Bank of Minneapolis.
    13. David M. Frankel, 2010. "Rent Seeking and Economic Fragility," Levine's Bibliography 661465000000000159, UCLA Department of Economics.
    14. Jean-Pierre Allegret & Camille Cornand, 2005. "The Pros and Cons of Higher Transparency: The Case of Speculative Attacks," Working Papers 0502, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    15. Angeletos, George-Marios & Alesina, Alberto, 2005. "Fairness and Redistribution," Scholarly Articles 4553009, Harvard University Department of Economics.
    16. Moheeput, Ashwin, 2008. "Financial Fragility, Systemic Risks and Informational Spillovers : Modelling Banking Contagion as State-Contingent Change in Cross-Bank Correlation," The Warwick Economics Research Paper Series (TWERPS) 853, University of Warwick, Department of Economics.
    17. Corrado, L. & Miller, M. & Zhang, L., 2007. "Bulls, Bears and Excess Volatility: can currency intervention help?," Cambridge Working Papers in Economics 0708, Faculty of Economics, University of Cambridge.
    18. Cukierman, Alex & Spiegel, Yossi & Goldstein, Itay, 2003. "The Choice of Exchange Rate Regime and Speculative Attacks," CEPR Discussion Papers 3714, Centre for Economic Policy Research.
    19. Christian Hellwig, 2002. "Public Announcements, Adjustment Delays, and the Business Cycle (November 2002)," UCLA Economics Online Papers 208, UCLA Department of Economics.
    20. , & ,, 2013. "Selection-free predictions in global games with endogenous information and multiple equilibria," Theoretical Economics, Econometric Society, vol. 8(3), September.
    21. Michalski, Tomasz & Stoltz, Gilles, 2010. "Do countries falsify economic date strategically? Some evidence that they do," HEC Research Papers Series 930, HEC Paris.
    22. Junnosuke Shino, 2010. "Lender of Last Resort Policy in a Global Game and the Role of Depositors Aggregate Behavior as Signaling," Departmental Working Papers 201007, Rutgers University, Department of Economics.
    23. Chong Huang, 2011. "Defending Against Speculative Attacks: Reputation, Learning, and Coordination," PIER Working Paper Archive 11-039, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    24. Alberto Alesina & George-Marios Angeletos, 2003. "Fairness and Redistribution: U.S. versus Europe," NBER Working Papers 9502, National Bureau of Economic Research, Inc.
    25. Christian Hellwig & Arijit Mukherji & Aleh Tsyvinski, 2005. "Self-Fulfilling Currency Crises: The Role of Interest Rates," NBER Working Papers 11191, National Bureau of Economic Research, Inc.
    26. Frankel, David M., 2010. "Shocks and Crises in the Long Run," Staff General Research Papers Archive 31687, Iowa State University, Department of Economics.
    27. Nikitin, Maxim & Smith, R. Todd, 2008. "Information acquisition, coordination, and fundamentals in a financial crisis," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 907-914, June.
    28. Jess Benhabib & Pengfei Wang & Yi Wen, 2013. "Uncertainty and sentiment-driven equilibria," Working Papers 2013-011, Federal Reserve Bank of St. Louis.
    29. Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2004. "The optimal degree of discretion in monetary policy," International Finance Discussion Papers 801, Board of Governors of the Federal Reserve System (U.S.).
    30. Christian Hellwig, 2004. "Self-Fulfilling Currency Crises: The Role of Interest Rates (A.E.R., December 2006)," UCLA Economics Online Papers 338, UCLA Department of Economics.
    31. George-Marios Angeletos & Alessandro Pavan, 2007. "Dynamic Global Games of Regime Change: Learning, Multiplicity and Timing of Attacks," Discussion Papers 1497, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    32. Christian Hellwig, 2004. "Dynamic Global Games of Regime Change: Learning, Multiplicity and Timing of Attacks (August 2006, with George-Marios Angeletos and Alessandro Pavan)," UCLA Economics Online Papers 279, UCLA Department of Economics.
    33. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2004. "Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change," NBER Working Papers 11017, National Bureau of Economic Research, Inc.
    34. Valentinyi, Ákos, 2005. "Jegybanki bejelentések és makroökonómiai stabilitás [Central-bank announcements and macroeconomic stability]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 811-824.
    35. Ricardo J. Caballero & Arvind Krishnamurthy, 2004. "Fiscal Policy and Financial Depth," NBER Working Papers 10532, National Bureau of Economic Research, Inc.
    36. Bannier, Christina E., 2004. "Big elephants in small ponds: Do large traders make financial markets more aggressive?," Volkswirtschaftliche Diskussionsbeiträge 77, University of Kassel, Faculty of Economics and Management.
    37. Veldkamp, Laura, 2006. "Uncertainty, policy ineffectiveness and long stagnation of the macroeconomy," Japan and the World Economy, Elsevier, vol. 18(3), pages 273-277, August.
    38. Zwart, Sanne, 2007. "The mixed blessing of IMF intervention: Signalling versus liquidity support," Journal of Financial Stability, Elsevier, vol. 3(2), pages 149-174, July.
    39. Toxvaerd, Flavio, 2007. "Strategic Merger Waves: A Theory of Musical Chairs," CEPR Discussion Papers 6159, Centre for Economic Policy Research.
    40. Christian Hellwig, 2002. "Imperfect Common Knowledge of Preferences in Global Coordination Games (October 2002)," UCLA Economics Online Papers 211, UCLA Department of Economics.
    41. Stephen Morris & Hyun Song Shin, 2007. "Common Belief Foundations of Global Games," Levine's Bibliography 122247000000001638, UCLA Department of Economics.
    42. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2005. "Signaling in a Global Game: Coordination and Policy Traps," Discussion Papers 1400, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    43. Kasahara, Tetsuya, 2013. "Investment complementarities, coordination failure, and the role and effects of public investment policy," Discussion Paper Series 589, Institute of Economic Research, Hitotsubashi University.
    44. George-Marios Angeletos & Ivan Werning, 2004. "Crises and Prices: Information Aggregation, Multiplicity and Volatility," NBER Working Papers 11015, National Bureau of Economic Research, Inc.
    45. Pierpaolo Benigno & Michael Woodford, 2004. "Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach," NBER Chapters, in: NBER Macroeconomics Annual 2003, Volume 18, pages 271-364, National Bureau of Economic Research, Inc.
    46. Morris, Stephen & Shin, Hyun Song, 2006. "Catalytic finance: When does it work?," Journal of International Economics, Elsevier, vol. 70(1), pages 161-177, September.

  55. Manuel Amador & Ivan Werning & George-Marios Angeletos, 2003. "Commitment Vs. Flexibility," NBER Working Papers 10151, National Bureau of Economic Research, Inc.

    Cited by:

    1. Dekel, Eddie & Lipman, Barton L. & Rustichini, Aldo, 2006. "Temptation-Driven Preferences," Foerder Institute for Economic Research Working Papers 275695, Tel-Aviv University > Foerder Institute for Economic Research.
    2. Brocas, Isabelle & Carrillo, Juan D., 2014. "Dual-process theories of decision-making: A selective survey," Journal of Economic Psychology, Elsevier, vol. 41(C), pages 45-54.
    3. Waki, Yuichiro & Dennis, Richard & Fujiwara, Ippei, 2015. "The Optimal Degree of Monetary-Discretion in a New Keynesian Model with Private Information," SIRE Discussion Papers 2015-66, Scottish Institute for Research in Economics (SIRE).
    4. Karlan, Dean & Linden, Leigh L., 2025. "Loose knots: Strong versus weak commitments to save for education in Uganda," Journal of Development Economics, Elsevier, vol. 174(C).
    5. Kfir Eliaz & Ran Spiegler, 2004. "Contracting with Diversely Naïve Agents," Levine's Bibliography 122247000000000530, UCLA Department of Economics.
    6. Rodrigo Harrison & Roger Lagunoff, 2017. "Dynamic Mechanism Design For A Global Commons," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(3), pages 751-782, August.
    7. Pierre C. Boyer & Christoph Esslinger & Brian Roberson, 2021. "Public Debt and the Political Economy of Reforms," CESifo Working Paper Series 8962, CESifo.
    8. Marco Casari, 2009. "Pre-commitment and flexibility in a time decision experiment," Journal of Risk and Uncertainty, Springer, vol. 38(2), pages 117-141, April.
    9. Youichiro Higashi & Kazuya Hyogo & Gil Riella, 2020. "Dynamically Consistent Menu Preferences," KIER Working Papers 1047, Kyoto University, Institute of Economic Research.
    10. Moser, Christian & Olea de Souza e Silva, Pedro, 2019. "Optimal Paternalistic Savings Policies," MPRA Paper 95383, University Library of Munich, Germany.
    11. Matthias Uhl, 2011. "Do Self-Committers Mind Other-Imposed Commitment? An Experiment on Weak Paternalism," Rationality, Markets and Morals, Frankfurt School Verlag, Frankfurt School of Finance & Management, vol. 2(40), June.
    12. Christian A. Moser & Pierre Yared, 2020. "Pandemic Lockdown: The Role of Government Commitment," NBER Working Papers 27062, National Bureau of Economic Research, Inc.
    13. Briere, Marie & Poterba, James & Szafarz, Ariane, 2026. "Precautionary liquidity and worker decisions: Evidence from French employee saving plans," Journal of Public Economics, Elsevier, vol. 254(C).
    14. Theresa Kuchler, 2013. "Sticking to Your Plan: Hyperbolic Discounting and Credit Card Debt Paydown," Discussion Papers 12-025, Stanford Institute for Economic Policy Research.
    15. Haavio, Markus & Kotakorpi, Kaisa, 2016. "Sin licenses revisited," Journal of Public Economics, Elsevier, vol. 144(C), pages 40-51.
    16. Isabelle Brocas & Juan D. Carrillo, 2005. "The Brain as a Hierarchical Organization," Levine's Bibliography 172782000000000073, UCLA Department of Economics.
    17. Looney, Adam & Kroft, Kory & Chetty, Raj, 2009. "Salience and Taxation: Theory and Evidence," Scholarly Articles 9748525, Harvard University Department of Economics.
    18. Marc Labie & Carolina Laureti & Ariane Szafarz, 2013. "Flexible Products in Microfinance: Overcoming the Demand-Supply Mismatch," Working Papers CEB 13-044, ULB -- Universite Libre de Bruxelles.
    19. Navin Kartik & Andreas Kleiner & Richard Van Weelden, 2020. "Delegation in Veto Bargaining," Papers 2006.06773, arXiv.org, revised May 2021.
    20. Radoslaw Paluszynski & Pei Cheng Yu, 2023. "Commitment versus Flexibility and Sticky Prices: Evidence from Life Insurance," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 99-122, July.
    21. Fahn, Matthias & Seibel, Regina, 2022. "Present bias in the labor market – when it pays to be naive," Games and Economic Behavior, Elsevier, vol. 135(C), pages 144-167.
    22. Xavier Giné & Jessica Goldberg & Dan Silverman & Dean Yang, 2012. "Revising Commitments: Field Evidence on the Adjustment of Prior Choices," NBER Working Papers 18065, National Bureau of Economic Research, Inc.
    23. Jin, Lawrence & Kang, Minwook, 2023. "Human-capital investments as a commitment device," Economic Modelling, Elsevier, vol. 126(C).
    24. Sulka, Tomasz, 2022. "Planning and saving for retirement," DICE Discussion Papers 384, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    25. Halac, Marina & Yared, Pierre, 2018. "Instrument-Based vs. Target-Based Rules," CEPR Discussion Papers 12872, Centre for Economic Policy Research.
    26. Halac, Marina & Yared, Pierre, 2013. "Fiscal Rules and Discretion under Persistent Shocks," The Warwick Economics Research Paper Series (TWERPS) 1014, University of Warwick, Department of Economics.
    27. Yusuke Kinai, 2011. "Optimal Degree of Commitment in a Tax Policy," Discussion Papers in Economics and Business 11-11, Osaka University, Graduate School of Economics.
    28. Weber, Thomas A., 2014. "A continuum of commitment," Economics Letters, Elsevier, vol. 124(1), pages 67-73.
    29. David Laibson & Sean Chanwook Lee & Peter Maxted & Andrea Repetto & Jeremy Tobacman, 2007. "Estimating Discount Functions with Consumption Choices over the Lifecycle," NBER Working Papers 13314, National Bureau of Economic Research, Inc.
    30. Islamaj, Ergys & Samano Penaloza, Agustin & Sommers,Scott, 2024. "The Sovereign Spread Compressing Effect of Fiscal Rules during Global Crises," Policy Research Working Paper Series 10741, The World Bank.
    31. Janeba, Eckhard & Dotti, Valerio, 2021. "Consistent Flexibility: Enforcement of Fiscal Rules Through Political Incentives," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242468, Verein für Socialpolitik / German Economic Association.
    32. Martimort, David & Semenov, Aggey, 2008. "The informational effects of competition and collusion in legislative politics," Journal of Public Economics, Elsevier, vol. 92(7), pages 1541-1563, July.
    33. Michael Hamp & Carolina Laureti, 2011. "Balancing flexibility and discipline in microfinance: Innovative financial products that benefit clients and service providers," Working Papers CEB 11-044, ULB -- Universite Libre de Bruxelles.
    34. Dotti, Valerio & Janeba, Eckhard, 2023. "Consistent flexibility: Enforcement of deficit rules through political incentives," European Journal of Political Economy, Elsevier, vol. 79(C).
    35. Frankel, Alexander, 2016. "Discounted quotas," Journal of Economic Theory, Elsevier, vol. 166(C), pages 396-444.
    36. Narayana R Kocherlakota, 2005. "Advances in Dynamic Optimal Taxation," Levine's Bibliography 784828000000000518, UCLA Department of Economics.
    37. Halac, Marina & Yared, Pierre, 2019. "Fiscal Rules and Discretion under Limited Enforcement," CEPR Discussion Papers 14218, Centre for Economic Policy Research.
    38. Beshears, John & Choi, James J. & Clayton, Christopher & Harris, Christopher & Laibson, David & Madrian, Brigitte C., 2025. "Optimal illiquidity," Journal of Financial Economics, Elsevier, vol. 165(C).
      • John Beshears & James J. Choi & Christopher Clayton & Christopher Harris & David Laibson & Brigitte C. Madrian, 2020. "Optimal Illiquidity," NBER Working Papers 27459, National Bureau of Economic Research, Inc.
    39. Yu, Pei Cheng, 2020. "Seemingly exploitative contracts," Journal of Economic Behavior & Organization, Elsevier, vol. 176(C), pages 299-320.
    40. Daniel Gottlieb, 2008. "Competition over Time‐Inconsistent Consumers," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(4), pages 673-684, August.
    41. Ambrus, Attila & Egorov, Georgy, 2017. "Delegation and nonmonetary incentives," Journal of Economic Theory, Elsevier, vol. 171(C), pages 101-135.
    42. Benjamin A. Malin, 2007. "Hyperbolic discounting and uniform savings floors," Finance and Economics Discussion Series 2007-59, Board of Governors of the Federal Reserve System (U.S.).
    43. Acharya, Subas & Jimenez-Gomez, David & Rachinskii, Dmitrii & Rivera, Alejandro, 2026. "Present-bias and the value of sophistication: Splurging vs. smoothing," Games and Economic Behavior, Elsevier, vol. 157(C), pages 186-225.
    44. Chetty, Nadarajan, 2009. "Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods," Scholarly Articles 9748528, Harvard University Department of Economics.
    45. Catherine C. Eckel & Ragan Petrie, 2011. "Face Value," American Economic Review, American Economic Association, vol. 101(4), pages 1497-1513, June.
    46. Potrafke, Niklas, 2025. "The economic consequences of fiscal rules," Journal of International Money and Finance, Elsevier, vol. 153(C).
    47. Ardanaz, Martín & Cavallo, Eduardo & Izquierdo, Alejandro & Puig, Jorge, 2021. "Growth-friendly fiscal rules? Safeguarding public investment from budget cuts through fiscal rule design," Journal of International Money and Finance, Elsevier, vol. 111(C).
    48. Xiong, Yan & Yang, Liyan, 2025. "Personalized pricing, network effects, and commitment," Journal of Economic Theory, Elsevier, vol. 227(C).
    49. Arvaniti, Maria & Sjögren, Tomas, 2023. "Temptation in consumption and optimal taxation," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 687-707.
    50. Ferdinando Colombo & Guido Merzoni, 2008. "For how long to tie your hands? Stable relationships in an unstable environment," Journal of Economics, Springer, vol. 95(2), pages 93-120, November.
    51. Coate, Stephen & Milton, Ross T., 2019. "Optimal fiscal limits with overrides," Journal of Public Economics, Elsevier, vol. 174(C), pages 76-92.
    52. Amador, Manuel & Bagwell, Kyle, 2020. "Money burning in the theory of delegation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 382-412.
    53. Alaoui, Larbi & Fons-Rosen, Christian, 2021. "Know when to fold’em: The flip side of grit," European Economic Review, Elsevier, vol. 136(C).
    54. David Backus & Bryan Routledge & Stanley Zin, 2004. "Exotic Preferences for Macroeconomists," NBER Working Papers 10597, National Bureau of Economic Research, Inc.
    55. Ted O’Donoghue & Matthew Rabin, 2006. "Incentives and Self Control," Levine's Bibliography 122247000000001262, UCLA Department of Economics.
    56. Sandro Ambuehl & B. Douglas Bernheim & Axel Ockenfels, 2019. "Projective Paternalism," CESifo Working Paper Series 7762, CESifo.
    57. Palacios-Huerta, Ignacio & Parkes, David C. & Steinberg, Richard, 2024. "Combinatorial auctions in practice," LSE Research Online Documents on Economics 124108, London School of Economics and Political Science, LSE Library.
    58. Chistoph Grosse-Steffen & Laura Pagenhardt & Malte Rieth, 2021. "Committed to Flexible Fiscal Rules," Working papers 854, Banque de France.
    59. Galasso, Alberto, 2020. "Rewards versus intellectual property rights when commitment is limited," Journal of Economic Behavior & Organization, Elsevier, vol. 169(C), pages 397-411.
    60. Laura Alfaro & Fabio Kanczuk, 2017. "Fiscal Rules and Sovereign Default," NBER Working Papers 23370, National Bureau of Economic Research, Inc.
    61. Marina Halac & Pierre Yared, 2017. "Fiscal Rules and Discretion under Self-Enforcement," NBER Working Papers 23919, National Bureau of Economic Research, Inc.
    62. Laureti, Carolina & Szafarz, Ariane, 2023. "Banking regulation and costless commitment contracts for time-inconsistent agents," Economic Modelling, Elsevier, vol. 129(C).
    63. Leonardo Felli & Giovanni Immordino & Alessandro Riboni & Luca Anderlini, 2008. "Legal Origins and Creative Destruction," 2008 Meeting Papers 733, Society for Economic Dynamics.
    64. Matteo Foschi, 2016. "Contracting with Type-Dependent Naïveté," Discussion Papers in Economics 16/03, Division of Economics, School of Business, University of Leicester.
    65. Shangen Li, 2024. "Optimal Design of Climate Disclosure Policies: Transparency versus Externality," Papers 2402.11961, arXiv.org, revised Aug 2024.
    66. Kang, Jingoo & Kang, Minwook, 2022. "Durable goods as commitment devices under quasi-hyperbolic discounting," Journal of Mathematical Economics, Elsevier, vol. 99(C).
    67. Zilibotti, Fabrizio & Doepke, Matthias, 2014. "Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission," CEPR Discussion Papers 10029, Centre for Economic Policy Research.
    68. Schenone, Pablo, 2016. "Identifying subjective beliefs in subjective state space models," Games and Economic Behavior, Elsevier, vol. 95(C), pages 59-72.
    69. Ferraz, Eduardo & Mantilla, César, 2024. "How risk aversion shapes the trade-off between commitment and flexibility," Journal of Economic Behavior & Organization, Elsevier, vol. 227(C).
    70. Agnes Kovacs & Hamish Low & Patrick Moran, 2021. "Estimating Temptation And Commitment Over The Life Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(1), pages 101-139, February.
    71. Stavros Panageas, 2007. "Optimal Retirement Benefit Guarantees," 2007 Meeting Papers 172, Society for Economic Dynamics.
    72. Gao, Feng & Xi He, Alex & He, Ping, 2018. "A theory of intermediated investment with hyperbolic discounting investors," Journal of Economic Theory, Elsevier, vol. 177(C), pages 70-100.
    73. Grossman, Gene M. & Helpman, Elhanan, 2008. "Separation of powers and the budget process," Journal of Public Economics, Elsevier, vol. 92(3-4), pages 407-425, April.
    74. Bishnu, Monisankar & Wang, Min, 2013. "Voting under temptation," Economics Letters, Elsevier, vol. 118(3), pages 419-423.
    75. Anett John (née Hofmann), 2014. "When Commitment Fails - Evidence from a Regular Saver Product in the Philippines," STICERD - Economic Organisation and Public Policy Discussion Papers Series 055, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    76. Itzik Fadlon & David Laibson, 2017. "Paternalism and Pseudo-Rationality: An Illustration Based on Retirement Savings," NBER Working Papers 23620, National Bureau of Economic Research, Inc.
    77. Armstrong, Mark & Vickers, John, 2008. "A model of delegated project choice," MPRA Paper 8963, University Library of Munich, Germany.
    78. Andersen, Torben M. & Bhattacharya, Joydeep & Liu, Pan, 2023. "Commitment and partial naïveté: Early withdrawal penalties on retirement accounts," Journal of Mathematical Economics, Elsevier, vol. 106(C).
    79. Gilpatric, Scott M., 2008. "Present-biased preferences, self-awareness and shirking," Journal of Economic Behavior & Organization, Elsevier, vol. 67(3-4), pages 735-754, September.
    80. Ryota Nakamura & Marc Suhrcke & Daniel John Zizzo, 2017. "A triple test for behavioral economics models and public health policy," Theory and Decision, Springer, vol. 83(4), pages 513-533, December.
    81. Heidhues, Paul & Köszegi, Botond, 2018. "Behavioral Industrial Organization," CEPR Discussion Papers 12988, Centre for Economic Policy Research.
    82. Galperti, Simone, 2019. "A theory of personal budgeting," Theoretical Economics, Econometric Society, vol. 14(1), January.
    83. John Beshears & James J. Choi & Christopher Harris & David Laibson & Brigitte C. Madrian & Jung Sakong, 2015. "Self Control and Commitment: Can Decreasing the Liquidity of a Savings Account Increase Deposits?," NBER Working Papers 21474, National Bureau of Economic Research, Inc.
    84. Beshears, John & Choi, James J. & Harris, Christopher & Laibson, David & Madrian, Brigitte C. & Sakong, Jung, 2020. "Which early withdrawal penalty attracts the most deposits to a commitment savings account?," Journal of Public Economics, Elsevier, vol. 183(C).
    85. Elias L. Khalil, 2010. "Adam Smith’S Concept Of Self‐Command As A Solution To Dynamic Inconsistency And The Commitment Problem," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 177-191, January.
    86. Krasikov, Ilia & Lamba, Rohit, 2021. "A theory of dynamic contracting with financial constraints," Journal of Economic Theory, Elsevier, vol. 193(C).
    87. Basu, Karna, 2014. "Commitment savings in informal banking markets," Journal of Development Economics, Elsevier, vol. 107(C), pages 97-111.
    88. Liang Bai & Benjamin Handel & Edward Miguel & Gautam Rao, 2017. "Self-Control and Demand for Preventive Health: Evidence from Hypertension in India," NBER Working Papers 23727, National Bureau of Economic Research, Inc.
    89. Esquivel, Carlos & Samano, Agustin, 2026. "Expansionary fiscal rules under sovereign risk," Journal of International Economics, Elsevier, vol. 159(C).
    90. Robert Ridlon & Jiwoong Shin, 2013. "Favoring the Winner or Loser in Repeated Contests," Marketing Science, INFORMS, vol. 32(5), pages 768-785, September.
    91. Saran, Rene, 2026. "A dynamic optimization approach to delegation with an application to volunteer contracts," Games and Economic Behavior, Elsevier, vol. 155(C), pages 27-54.
    92. Manuel Amador & Kyle Bagwell, 2012. "Tariff Revenue and Tariff Caps," American Economic Review, American Economic Association, vol. 102(3), pages 459-465, May.
    93. Darong Dai, 2013. "Wealth Martingale and Neighborhood Turnpike Property In Dynamically Complete Market With Heterogeneous Investors," Economic Research Guardian, Mutascu Publishing, vol. 3(2), pages 86-110, December.
    94. Aguilera-Torres, Boris & Talbot-Wright, Hipólito & Villena, Mauricio G., 2025. "Fiscal rules, escape clauses, and credit markets: Evidence from financial crises," Economics Letters, Elsevier, vol. 256(C).
    95. S. Nageeb Ali, 2009. "Learning Self-Control," Levine's Working Paper Archive 814577000000000384, David K. Levine.
    96. John Beshears & James J. Choi & Joshua Hurwitz & David Laibson & Brigitte C. Madrian, 2015. "Liquidity in Retirement Savings Systems: An International Comparison," NBER Working Papers 21168, National Bureau of Economic Research, Inc.
    97. Barokas, Guy, 2019. "Choice theoretic foundation for libertarian paternalism: Reconciling the behavioral and libertarian approaches to welfare," Journal of Mathematical Economics, Elsevier, vol. 81(C), pages 62-73.
    98. Daniel Gottlieb & Xingtan Zhang, 2021. "Long‐Term Contracting With Time‐Inconsistent Agents," Econometrica, Econometric Society, vol. 89(2), pages 793-824, March.
    99. Abubakar, Jamila & Aysan, Ahmet F. & Disli, Mustafa, 2025. "(Un)risky commitments," Emerging Markets Review, Elsevier, vol. 64(C).
    100. Laurence Ales & Pricila Maziero & Pierre Yared, 2012. "A Theory of Political and Economic Cycles," NBER Working Papers 18354, National Bureau of Economic Research, Inc.
    101. Alfaro, Laura & Kanczuk, Fabio, 2026. "Fiscal rules and sovereign default," Emerging Markets Review, Elsevier, vol. 70(C).
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    104. L’Huillier, Jean-Paul & Zame, William R., 2022. "Optimally sticky prices: Foundations," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
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  56. George-Marios Angeletos & Laurent E. Calvet, 2002. "Idiosyncratic Production Risk, Growth and the Business Cycle," Harvard Institute of Economic Research Working Papers 1952, Harvard - Institute of Economic Research.

    Cited by:

    1. Covas Francisco & Fujita Shigeru, 2011. "Private Equity Premium and Aggregate Uncertainty in a Model of Uninsurable Investment Risk," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-36, July.
    2. Luo, Yulei & Zou, Heng-fu, 2008. "Uninsurable Entrepreneurial Risk, Capital Market Imperfections, and Heterogeneity in the Macroeconomy," MPRA Paper 59450, University Library of Munich, Germany.
    3. Yanos Zylberberg, 2011. "Capital misallocation and credit constraints: Theory and evidence from natural," PSE Working Papers halshs-00607212, HAL.
    4. Angeletos, George-Marios & Panousi, Vasia, 2011. "Financial integration, entrepreneurial risk and global dynamics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 863-896, May.
    5. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, Centre for Economic Policy Research.
    6. Anthony A. Smith, Jr., 2003. "The Research Agenda: Business Cycles and Inequality," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 4(2), April.
    7. Yoseph Getachew & Stephen J Turnovsky, "undated". "Redistribution, inequality, and efficiency with credit constraints," ERSA Working Paper Series v::y:2020:i::id:119, Economic Research Southern Africa.
    8. Dzhumashev, Ratbek & Mishra, Vinod & Smyth, Russell, 2016. "Exporting, R&D investment and firm survival in the Indian IT sector," Journal of Asian Economics, Elsevier, vol. 42(C), pages 1-19.
    9. Pardo, Cristian, 2013. "Entrepreneurial risk aversion, net worth effects and real fluctuations," Review of Financial Economics, Elsevier, vol. 22(4), pages 158-168.
    10. Stohler, Fabio & Bayer, Christian, 2025. "Can Public Debt Crowd in Private Investment?," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy 325410, Verein für Socialpolitik / German Economic Association.
    11. Thesmar, David, 2009. "Contrasting Trends in Firm Volatility: Theory and Evidence," CEPR Discussion Papers 7135, Centre for Economic Policy Research.
    12. Caggese, Andrea, 2012. "Entrepreneurial risk, investment, and innovation," Journal of Financial Economics, Elsevier, vol. 106(2), pages 287-307.
    13. Ruediger Bachmann & Jinhui Bai & Minjoon Lee & Fudong Zhang, 2020. "The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 127-153, October.
    14. Getachew, Yoseph Yilma, 2012. "Distributional effects of public policy choices," Economics Letters, Elsevier, vol. 115(1), pages 56-59.
    15. George-Marios Angeletos & Vasia Panousi, 2007. "Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets," NBER Working Papers 13136, National Bureau of Economic Research, Inc.
    16. Caterina Mendicino, 2012. "Collateral Requirements: Macroeconomic Fluctuations and Macro-Prudential Policy," Working Papers w201211, Banco de Portugal, Economics and Research Department.
    17. Juan Carlos Parra-Alvarez & Olaf Posch & Mu-Chun Wang, 2020. "Estimation of heterogeneous agent models: A likelihood approach," CREATES Research Papers 2020-05, Department of Economics and Business Economics, Aarhus University.
    18. Jacco Thijssen, 2008. "A computational study on general equilibrium pricing of derivative securities," Annals of Finance, Springer, vol. 4(4), pages 505-523, October.
    19. Lasse Brune & Xavier Giné & Jessica Goldberg & Dean Yang, 2016. "Facilitating Savings for Agriculture: Field Experimental Evidence from Malawi," Economic Development and Cultural Change, University of Chicago Press, vol. 64(2), pages 187-220.
    20. Mendicino, Caterina, 2008. "On the amplification role of collateral constraints," MPRA Paper 9425, University Library of Munich, Germany.
    21. Ricardo T. Fernholz, 2016. "A Statistical Model of Inequality," Papers 1601.04093, arXiv.org.
    22. Juan-Carlos Cordoba, 2004. "Debt-Constraints or Incomplete Markets? A Decomposition of the Wealth and Consumption Inequality in the U.S," Macroeconomics 0404004, University Library of Munich, Germany.
    23. Tom Krebs, 2006. "Recursive equilibrium in endogenous growth models with incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(3), pages 505-523, November.
    24. Monacelli, Tommas & Sala, Luca & Siena, Daniele, 2018. "Real Interest Rates and Productivity in Small Open Economies," CEPR Discussion Papers 12808, Centre for Economic Policy Research.
    25. Dan Cao & Wenlan Luo, 2017. "Persistent Heterogeneous Returns and Top End Wealth Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 301-326, October.
    26. Hori, Takeo & Im, Ryonghun, 2023. "Asset bubbles, entrepreneurial risks, and economic growth," Journal of Economic Theory, Elsevier, vol. 210(C).
    27. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    28. Fernholz, Ricardo & Fernholz, Robert, 2014. "Instability and concentration in the distribution of wealth," Journal of Economic Dynamics and Control, Elsevier, vol. 44(C), pages 251-269.
    29. Stavros Panageas & Nicolae Garleanu, 2008. "Yooung, Old, Conservative and Bold: The implications of finite lives and heterogeneity for asset prices," 2008 Meeting Papers 409, Society for Economic Dynamics.
    30. Toda, Alexis Akira, 2014. "Incomplete market dynamics and cross-sectional distributions," Journal of Economic Theory, Elsevier, vol. 154(C), pages 310-348.
    31. Pardo, Cristian, 2012. "Risk aversion and business cycles: An empirical analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(4), pages 413-426.
    32. Dzhumashev, Ratbek, 2008. "Corruption and Disposable Risk," MPRA Paper 11772, University Library of Munich, Germany.
    33. Jason M. DeBacker & Bradley T. Heim & Vasia Panousi & Shanthi Ramnath & Ivan Vidangos, 2012. "The properties of income risk in privately held businesses," Finance and Economics Discussion Series 2012-69, Board of Governors of the Federal Reserve System (U.S.).
    34. Flavia Corneli, 2009. "The Saving Glut Explanation of Global Imbalances: the Role of Underinvestment," Economics Working Papers ECO2009/41, European University Institute.
    35. Angeletos, George-Marios & Panousi, Vasia, 2009. "Revisiting the supply side effects of government spending," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 137-153, March.
    36. Stavros Panageas, 2020. "The Implications of Heterogeneity and Inequality for Asset Pricing," NBER Working Papers 26974, National Bureau of Economic Research, Inc.
    37. Wei Cui & Jianjun Miao, 2025. "Taxing Sudden Capital Income Surges," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(3), pages 779-818, September.
    38. Anmol Bhandari & Ellen R. McGrattan, 2017. "Sweat Equity in U.S. Private Business," Staff Report 560, Federal Reserve Bank of Minneapolis.
    39. Hiroaki OHNO, 2011. "Limited Market Participation, Financial Intermediaries,And Endogenous Growth," Review of Economics & Finance, Better Advances Press, Canada, vol. 1, pages 53-62, August.
    40. Parantap Basu & Yoseph Getachew, 2020. "Redistributive innovation policy, inequality, and efficiency," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(3), pages 532-554, June.
    41. Yulei Luo & Jun Nie & Heng-fu Zou, 2021. "Wealth in the Utility Function and Consumption Inequality," Research Working Paper RWP 21-17, Federal Reserve Bank of Kansas City.
    42. Schroth, Josef, 2023. "Capital flows and growth across developing countries," Journal of International Money and Finance, Elsevier, vol. 137(C).
    43. Juan Carlos Parra-Alvarez & Olaf Posch & Mu-Chun Wang, 2017. "Identification and estimation of heterogeneous agent models: A likelihood approach," CREATES Research Papers 2017-35, Department of Economics and Business Economics, Aarhus University.
    44. Vincenzo Quadrini, 2009. "Entrepreneurship in macroeconomics," Annals of Finance, Springer, vol. 5(3), pages 295-311, June.
    45. Christian Hellwig, 2002. "Signaling in a Global Game: Coordination and Policy Traps (J.P.E., June 2006)," UCLA Economics Online Papers 209, UCLA Department of Economics.
    46. Fernholz, Ricardo T., 2016. "A Model of economic mobility and the distribution of wealth," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 168-192.
    47. Yanos Zylberberg, 2011. "Capital misallocation and credit constraints: Theory and evidence from natural," Working Papers halshs-00607212, HAL.
    48. Eva Carceles-Poveda, 2009. "Asset Prices and Business Cycles under Market Incompleteness," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(3), pages 405-422, July.
    49. Francisco Covas, 2005. "Uninsured Idiosyncratic Production Risk with Borrowing Constraints," Staff Working Papers 05-26, Bank of Canada.
    50. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2003. "Coordination and Policy Traps," NBER Working Papers 9767, National Bureau of Economic Research, Inc.
    51. Nikolov, Kalin, 2012. "A model of borrower reputation as intangible collateral," Working Paper Series 1490, European Central Bank.
    52. Jess Benhabib & Alberto Bisin, 2016. "Skewed Wealth Distributions: Theory and Empirics," NBER Working Papers 21924, National Bureau of Economic Research, Inc.
    53. Mark A. Carlson & Thomas B. King & Kurt F. Lewis, 2009. "Distress in the financial sector and economic activity," Finance and Economics Discussion Series 2009-01, Board of Governors of the Federal Reserve System (U.S.).
    54. George-Marios Angeletos & Laurent-Emmanuel Calvet, 2004. "Incomplete Market Dynamics in a Neoclassical Production Economy," NBER Working Papers 11016, National Bureau of Economic Research, Inc.
    55. Juan Carlos Parra‐Alvarez & Olaf Posch & Mu‐Chun Wang, 2023. "Estimation of Heterogeneous Agent Models: A Likelihood Approach," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(2), pages 304-330, April.
    56. Getachew, Yoseph Y. & Turnovsky, Stephen J., 2015. "Productive government spending and its consequences for the growth–inequality tradeoff," Research in Economics, Elsevier, vol. 69(4), pages 621-640.
    57. Ander Perez, 2010. "Credit Constraints, Firms' Precautionary Investment, and the Business Cycle," 2010 Meeting Papers 1004, Society for Economic Dynamics.
    58. Getachew, Yoseph Yilma, 2016. "Credit constraints, growth and inequality dynamics," Economic Modelling, Elsevier, vol. 54(C), pages 364-376.
    59. Getachew, Yoseph Y. & Turnovsky, Stephen J., 2020. "Redistribution, inequality, and efficiency with credit constraints: Implications for South Africa," Economic Modelling, Elsevier, vol. 93(C), pages 259-277.
    60. George-Marios Angeletos, 2005. "Uninsured Idiosyncratic Investment Risk," NBER Working Papers 11180, National Bureau of Economic Research, Inc.
    61. Luo, Yulei & Nie, Jun & Wang, Gaowang & Young, Eric, 2017. "Rational Inattention and the Dynamics of Consumption and Wealth in General Equilibrium," MPRA Paper 80045, University Library of Munich, Germany.
    62. George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.
    63. Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative Macroeconomics with Heterogeneous Households," NBER Working Papers 14768, National Bureau of Economic Research, Inc.
    64. Yoseph Y. Getachew & Stephen J. Turnovsky, 2020. "Redistribution, Inequality, and Efficiency with Credit Constraints," Working Papers 202028, University of Pretoria, Department of Economics.
    65. Iachan, Felipe S. & Silva, Dejanir & Zi, Chao, 2022. "Under-diversification and idiosyncratic risk externalities," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1227-1250.
    66. ÅžimÅŸek, Alp & Iachan, Felipe Saraiva & Nenov, Plamen T., 2020. "The Choice Channel of Financial Innovation," CEPR Discussion Papers 14361, Centre for Economic Policy Research.
    67. Guasoni, Paolo & Weber, Marko Hans, 2025. "General equilibrium with unhedgeable fundamentals and heterogeneous agents," Journal of Economic Theory, Elsevier, vol. 224(C).
    68. Getachew, Yoseph Yilma, 2012. "Do Ak models really lack transitional dynamics?," MERIT Working Papers 2012-011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    69. Ohno, Hiroaki, 2009. "Incomplete market participation, endogenous endowment risks and welfare," Journal of Economics and Business, Elsevier, vol. 61(5), pages 392-403, September.
    70. Yulei Luo & Jun Nie & Eric R Young, 2020. "Ambiguity, Low Risk-Free Rates and Consumption Inequality," The Economic Journal, Royal Economic Society, vol. 130(632), pages 2649-2679.
    71. Luo, Yulei & Nie, Jun & Wang, Haijun, 2022. "Ignorance, pervasive uncertainty, and household finance," Journal of Economic Theory, Elsevier, vol. 199(C).
    72. Dunbar, Geoffrey, 2013. "Returns-to-scale and the equity premium puzzle," Journal of Economic Dynamics and Control, Elsevier, vol. 37(9), pages 1736-1754.
    73. Hans-Werner Sinn & John Hassler & Gilles Saint-Paul & Giancarlo Corsetti & Michael P. Devereux & Tim Jenkinson & Jan-Egbert Sturm & Xavier Vives, 2009. "Chapter 2: The Financial Crisis," EEAG Report on the European Economy, CESifo, vol. 0, pages 59-122, February.
    74. Calvet, Laurent-Emmanuel & Grandmont, Jean-Michel & Lemaire, Isabelle, 2018. "Aggregation of heterogenous beliefs, asset pricing, and risk sharing in complete financial markets," Research in Economics, Elsevier, vol. 72(1), pages 117-146.
    75. Toda, Alexis Akira, 2017. "Huggett economies with multiple stationary equilibria," Journal of Economic Dynamics and Control, Elsevier, vol. 84(C), pages 77-90.
    76. Singh, Aarti, 2010. "Human capital risk in life-cycle economies," Journal of Monetary Economics, Elsevier, vol. 57(6), pages 729-738, September.
    77. Mikhail Golosov & John Hassler & Per Krusell & Aleh Tsyvinski, 2014. "Optimal Taxes on Fossil Fuel in General Equilibrium," Econometrica, Econometric Society, vol. 82(1), pages 41-88, January.
    78. Luo, Yulei & Nie, Jun & Young, Eric, 2017. "Robustness, Low Risk-Free Rates, and Consumption Volatility in General Equilibrium," MPRA Paper 80046, University Library of Munich, Germany.
    79. sunanda roy, 2007. "On price uncertainty, nominal assets and uninsurable idiosyncratic risks," Economics Bulletin, AccessEcon, vol. 4(32), pages 1-17.
    80. Fabia Gumbau-Brisa, 2005. "Heterogeneous beliefs and inflation dynamics: a general equilibrium approach," Working Papers 05-16, Federal Reserve Bank of Boston.
    81. Yulei Luo & Liutang Gong & Heng-fu Zou, 2010. "A Note on Entrepreneurial Risk, Capital Market Imperfections, and Heterogeneity," CEMA Working Papers 409, China Economics and Management Academy, Central University of Finance and Economics.
    82. M. Fatih Guvenen, 2002. "Does Stockholding Provide Perfect Risk Sharing?," RCER Working Papers 490, University of Rochester - Center for Economic Research (RCER), revised Mar 2003.
    83. Flavia Corneli, 2017. "Medium and long term implications of financial integration without financial development," Temi di discussione (Economic working papers) 1120, Bank of Italy, Economic Research and International Relations Area.
    84. Shuhei Aoki & Makoto Nirei & Kazufumi Yamana, 2018. "Risk-Taking, Inequality and Output in the Long-Run," Bank of Japan Working Paper Series 18-E-4, Bank of Japan.
    85. Francisco Covas & Shigeru Fujita, 2007. "Private risk premium and aggregate uncertainty in the model of uninsurable investment risk," Working Papers 07-30, Federal Reserve Bank of Philadelphia.
    86. Ander Pérez Orive, 2010. "Credit constraints, firms' precautionary investment and the business cycle," Economics Working Papers 1237, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2012.
    87. Alexander Karaivanov & Robert M. Townsend, 2013. "Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes," NBER Working Papers 19617, National Bureau of Economic Research, Inc.
    88. Panousi, Vasia, 2009. "Financial Integration and Capital Accumulation," MPRA Paper 24238, University Library of Munich, Germany.
    89. Ander Pérez Orive, 2015. "Credit Constraints, Firms' Precautionary Investment, and the Business Cycle," Working Papers 506, Barcelona School of Economics.
    90. Alexis Derviz, 2020. "Sovereign Capital, External Balance, and the Investment-Based Balassa-Samuelson Effect in a Global Dynamic Equilibrium," Working Papers 2020/4, Czech National Bank, Research and Statistics Department.
    91. Wulff, Alexander & Heinemann, Maik, 2015. "Idiosyncratic Risk, Borrowing Constraints and Financial Integration - A Discussion of Ambiguous Results," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113165, Verein für Socialpolitik / German Economic Association.

  57. Alberto Alesina & George-Marios Angeletos, 2002. "Fairness and Redistribution: US versus Europe," Harvard Institute of Economic Research Working Papers 1983, Harvard - Institute of Economic Research.

    Cited by:

    1. Christina Fong, 2003. "Emphatic responsiveness: Evidence from a randomized experiment on giving to welfare recipients," Framed Field Experiments 00149, The Field Experiments Website.
    2. Claudia Senik, 2005. "Income distribution and well‐being: what can we learn from subjective data?," Journal of Economic Surveys, Wiley Blackwell, vol. 19(1), pages 43-63, February.
    3. Bilal El Rafhi & Alexandre Volle, 2020. "The Effect of the Arab Spring on Preferences for Redistribution in Egypt," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 66(4), pages 875-903, December.
    4. Frederick Van der Ploeg, 2004. "The Welfare State, Redistribution and the Economy, Reciprocal Altruism, Consumer Rivalry and Second Best," CESifo Working Paper Series 1234, CESifo.
    5. Richard M. Bird & Jorge Martinez-Vazquez & Benno Torgler, 2004. "Societal Institutions and Tax Effort in Developing Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0406, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    6. Di Tella, Rafael & MacCulloch, Robert, 2006. "Europe vs America: Institutional hysteresis in a simple normative model," Journal of Public Economics, Elsevier, vol. 90(12), pages 2161-2186, December.
    7. Audi, Marc & Ali, Amjad, 2017. "Exploring the Linkage between Corruption and Economic Development in Case of Selected Developing and Developed Nations," MPRA Paper 83518, University Library of Munich, Germany.
    8. Jean-Robert Tyran & Rupert Sausgruber, 2002. "A Little Fairness may Induce a Lot of Redistribution in Democracy," University of St. Gallen Department of Economics working paper series 2002 2002-30, Department of Economics, University of St. Gallen.
    9. Alesina, Alberto & La Ferrara, Eliana, 2005. "Preferences for redistribution in the land of opportunities," Journal of Public Economics, Elsevier, vol. 89(5-6), pages 897-931, June.
    10. Fischer, Justina AV, 2009. "The Welfare Effects of Social Mobility: An Analysis for OECD countries," MPRA Paper 17070, University Library of Munich, Germany.
    11. Alice Nicole Sindzingre, 2007. "Poverty traps: a perspective from development economics," EconomiX Working Papers 2007-26, University of Paris Nanterre, EconomiX.
    12. Alicia Georghiades & Francisco José Eiroa-Orosa, 2020. "A Randomised Enquiry on the Interaction Between Wellbeing and Citizenship," Journal of Happiness Studies, Springer, vol. 21(6), pages 2115-2139, August.
    13. Bjørnskov, Christian, 2004. "Legal Quality, Inequality, and Tolerance," Working Papers 04-9, University of Aarhus, Aarhus School of Business, Department of Economics.
    14. Richard Bird, 2008. "Tax Challenges Facing Developing Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0802, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    15. Senik, Claudia, 2006. "Ambition and Jealousy: Income Interactions in the "Old" Europe versus the "New" Europe and the United States," IZA Discussion Papers 2083, IZA Network @ LISER.
    16. Grüner, Hans Peter, 2003. "Inequality and Political Consensus," CEPR Discussion Papers 4159, Centre for Economic Policy Research.
    17. Rafael Di Tella & Robert MacCulloch, 2007. "Why Doesn't Capitalism Flow to Poor Countries?," NBER Working Papers 13164, National Bureau of Economic Research, Inc.
    18. Robert J. Gordon & Ian Dew-Becker, 2008. "Controversies about the Rise of American Inequality: A Survey," NBER Working Papers 13982, National Bureau of Economic Research, Inc.
    19. Jeffrey Grogger & Gordon H. Hanson, 2008. "Income Maximization and the Selection and Sorting of International Migrants," NBER Working Papers 13821, National Bureau of Economic Research, Inc.

  58. George-Marios Angeletos & Laurent E. Calvet, 2001. "Incomplete Markets, Growth, and the Business Cycle," Harvard Institute of Economic Research Working Papers 1910, Harvard - Institute of Economic Research.

    Cited by:

    1. Marcelo Bianconi, 2004. "The Welfare Gains from Stabilization in a Stochastically Growing Economy with Idiosyncratic Shocks and Flexible Labor Supply," Discussion Papers Series, Department of Economics, Tufts University 0413, Department of Economics, Tufts University.
    2. Alejandro Gaytan & Romain Ranciere, 2005. "Banks, Liquidity Crises and Economic Growth," DEGIT Conference Papers c010_040, DEGIT, Dynamics, Economic Growth, and International Trade.
    3. Alejandro Gaytan & Romain Rancière, 2015. "Wealth, Financial Intermediation and Growth," Working Papers 191, Barcelona School of Economics.
    4. Laurent Calvet & Jean-Michel Grandmont & Isabelle Lemaire, 2004. "Aggregation oh Heterogeneous Beliefs, Asset Pricing and Risk Sharing in Complete Financial Markets," Working Papers 2004-12, Center for Research in Economics and Statistics.
    5. George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.
    6. Laurent Calvet & Martin Gonzalez-Eiras & Paolo Sodini, 2001. "Financial Innovation, Market Participation and Asset Prices," Harvard Institute of Economic Research Working Papers 1928, Harvard - Institute of Economic Research.

  59. Kollintzas, Tryphon & Angeletos, George-Marios, 2000. "Rent Seeking/Corruption And Growth: A Simple Model," CEPR Discussion Papers 2464, Centre for Economic Policy Research.

    Cited by:

    1. Gaitan, Beatriz & Pavel, Ferdinand, 2001. "How To Consider Governance In Economic Policy Modeling?," 2001 Annual meeting, August 5-8, Chicago, IL 20566, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Alberto Alesina & George-Marios Angeletos, 2004. "Fairness and Redistribution," Levine's Bibliography 122247000000000283, UCLA Department of Economics.
    3. Kollintzas, Tryphon & Vassilatos, Vanghelis & Papageorgiou, Dimitris, 2013. "A Neoclassical Growth Model for the Insiders ? Outsiders Society," CEPR Discussion Papers 9640, Centre for Economic Policy Research.
    4. Castiella Mauro, 2025. "A General Equilibrium Model of Corruption," Asociación Argentina de Economía Política: Working Papers 4786, Asociación Argentina de Economía Política.
    5. Alberto Alesina & George-Marios Angeletos, 2003. "Fairness and Redistribution: U.S. versus Europe," NBER Working Papers 9502, National Bureau of Economic Research, Inc.
    6. Tryphon Kollintzas & Dimitris Papageorgiou & Vanghelis Vassilatos, 2016. "Market and Political Power Interactions in Greece: A Theory," Working Papers 201601, Athens University Of Economics and Business, Department of Economics.
    7. Kollintzas, Tryphon & Vassilatos, Vanghelis & Papageorgiou, Dimitris, 2015. "A Model of Market and Political Power Interactions for Southern Europe," CEPR Discussion Papers 10359, Centre for Economic Policy Research.
    8. Charles Ka-Yui Leung & Sam Hak Kan Tang & Nicolaas Groenewold, 2005. "Growth volatility and technical progress: a simple rent-seeking model," Discussion Papers 00016, Chinese University of Hong Kong, Department of Economics.
    9. Fabrizio Carmignani, 2005. "Efficiency Of Institutions, Political Stability And Income Dynamics," Public Economics 0503007, University Library of Munich, Germany.

  60. George-Marios Angeletos, 2000. "Fiscal Policy and the Maturity Structure with Non-Contingent Debt," Econometric Society World Congress 2000 Contributed Papers 0802, Econometric Society.

    Cited by:

    1. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2001. "Government Debt as Insurance against Macroeconomic Risk," IZA Discussion Papers 412, IZA Network @ LISER.
    2. S. Rao Aiyagari & Albert Marcet & Thomas J. Sargent & Juha Seppala, 2002. "Optimal Taxation without State-Contingent Debt," Journal of Political Economy, University of Chicago Press, vol. 110(6), pages 1220-1254, December.

  61. Marios Angeletos & David Laibson & Andrea Repetto & Jeremy Tobacman & Stephen Weinberg, 2000. "Hyperbolic Discounting, Wealth Accumulation, and Consumption," Documentos de Trabajo 90, Centro de Economía Aplicada, Universidad de Chile.

    Cited by:

    1. Sebastian Barnes & Garry Young, 2003. "The rise in US household debt: assessing its causes and sustainability," Bank of England Staff Working Paper series 206, Bank of England.
    2. Findley, T. Scott & Caliendo, Frank N., 2015. "Time inconsistency and retirement choice," Economics Letters, Elsevier, vol. 129(C), pages 4-8.
    3. Cristóbal Huneeus, 2001. "Principales motivaciones de los chilenos para ahorrar: Evidencia usando datos subjetivos," Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 8, pages 241-262, Central Bank of Chile.
    4. Andrea Repetto, 2001. "Incentivos al ahorro personal: Lecciones de la economía del comportamiento," Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 7, pages 191-240, Central Bank of Chile.
    5. Almudena Sevilla-Sanz & Maria Jose Luengo-Prado, 2010. "Consumption, Retirement and Life-cycle Prices: Evidence From Spain," Economics Series Working Papers 498, University of Oxford, Department of Economics.

Articles

  1. George-Marios Angeletos & Karthik A. Sastry, 2025. "Inattentive Economies," Journal of Political Economy, University of Chicago Press, vol. 133(7), pages 2265-2319.
    See citations under working paper version above.
  2. George-Marios Angeletos & Guido Lorenzoni & Alessandro Pavan, 2023. "Wall Street and Silicon Valley: A Delicate Interaction," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(3), pages 1041-1083.
    See citations under working paper version above.
  3. George-Marios Angeletos & Chen Lian, 2023. "Determinacy without the Taylor Principle," Journal of Political Economy, University of Chicago Press, vol. 131(8), pages 2125-2164.
    See citations under working paper version above.
  4. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2023. "Public Debt as Private Liquidity: Optimal Policy," Journal of Political Economy, University of Chicago Press, vol. 131(11), pages 3233-3264.
    See citations under working paper version above.
  5. George-Marios Angeletos & Chen Lian, 2022. "Confidence and the Propagation of Demand Shocks," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(3), pages 1085-1119.
    See citations under working paper version above.
  6. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2021. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Macroeconomics Annual, University of Chicago Press, vol. 35(1), pages 1-86.
    See citations under working paper version above.
  7. George-Marios Angeletos & Zhen Huo, 2021. "Myopia and Anchoring," American Economic Review, American Economic Association, vol. 111(4), pages 1166-1200, April.
    See citations under working paper version above.
  8. George-Marios Angeletos & Karthik A Sastry, 2021. "Managing Expectations: Instruments Versus Targets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(4), pages 2467-2532.

    Cited by:

    1. Michael D. Bauer & Carolin E. Pflueger & Adi Sunderam, 2022. "Perceptions about Monetary Policy," CESifo Working Paper Series 10182, CESifo.
    2. Ehrmann, Michael & Holton, Sarah & Kedan, Danielle & Phelan, Gillian, 2022. "Monetary Policy Communication: Perspectives from Former Policy Makers at the ECB," Research Technical Papers 1/RT/22, Central Bank of Ireland.
    3. Dobrew, Michael & Gerke, Rafael & Giesen, Sebastian & Röttger, Joost, 2025. "Make-up strategies with incomplete markets and bounded rationality," European Economic Review, Elsevier, vol. 173(C).
    4. Chengcheng Jia, 2025. "Forward Guidance under Imperfect Information," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(7), pages 1765-1791, October.
    5. Dimitris Georgarakos & Yuriy Gorodnichenko & Olivier Coibion & Geoff Kenny, 2025. "The Causal Effects of Inflation Uncertainty on Households' Beliefs and Actions," IMES Discussion Paper Series 25-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    6. Prasanna Gai & Cameron Haworth, 2024. "Alternative Monetary Policy Commitments and the Yield Curve," The Economic Record, The Economic Society of Australia, vol. 100(329), pages 137-159, June.
    7. Christopher Gibbs & Nigel McClung, 2023. "Does my model predict a forward guidance puzzle?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 393-423, December.
    8. Born, Benjamin & Enders, Zeno & Müller, Gernot J., 2023. "On FIRE, news, and expectations," Working Papers 42, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.

  9. George-Marios Angeletos & Jennifer La’O, 2020. "Optimal Monetary Policy with Informational Frictions," Journal of Political Economy, University of Chicago Press, vol. 128(3), pages 1027-1064.
    See citations under working paper version above.
  10. Angeletos, George-Marios & Iovino, Luigi & La'O, Jennifer, 2020. "Learning over the business cycle: Policy implications," Journal of Economic Theory, Elsevier, vol. 190(C).
    See citations under working paper version above.
  11. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2020. "Business-Cycle Anatomy," American Economic Review, American Economic Association, vol. 110(10), pages 3030-3070, October.
    See citations under working paper version above.
  12. George-Marios Angeletos & Chen Lian, 2018. "Forward Guidance without Common Knowledge," American Economic Review, American Economic Association, vol. 108(9), pages 2477-2512, September.
    See citations under working paper version above.
  13. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    See citations under working paper version above.
  14. George‐Marios Angeletos & Fabrice Collard & Harris Dellas, 2018. "Quantifying Confidence," Econometrica, Econometric Society, vol. 86(5), pages 1689-1726, September.
    See citations under working paper version above.
  15. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2016. "Real Rigidity, Nominal Rigidity, and the Social Value of Information," American Economic Review, American Economic Association, vol. 106(1), pages 200-227, January.
    See citations under working paper version above.
  16. Alberto Alesina & George-Marios Angeletos & Guido Cozzi, 2013. "Fairness and Redistribution: Reply," American Economic Review, American Economic Association, vol. 103(1), pages 554-561, February.

    Cited by:

    1. Chu, Angus C. & Kou, Zonglai & Wang, Xilin, 2022. "An economic analysis of political meritocracy," Economic Modelling, Elsevier, vol. 106(C).
    2. Rafael Di Tella & Juan Dubra & Alejandro Luis Lagomarsino, 2016. "Meet the Oligarchs: Business Legitimacy, State Capacity and Taxation," NBER Working Papers 22934, National Bureau of Economic Research, Inc.
    3. Ryo Kambayashi & Sébastien Lechevalier & Thanasak Jenmana, 2020. "Decomposing Preference for Redistribution Beyond the Trans-Atlantic Perspective," Working Papers hal-02796841, HAL.
    4. Dolmas, Jim, 2014. "Almost orthogonal outcomes under probabilistic voting: A cautionary example," MPRA Paper 53628, University Library of Munich, Germany.
    5. Alesina, Alberto Francesco & Giuliano, Paola, 2015. "Culture and Institutions," Scholarly Articles 27759053, Harvard University Department of Economics.
    6. Ooghe, Erwin & Peichl, Andreas, 2014. "Fair and efficent taxation under partial control," ZEW Discussion Papers 14-002, ZEW - Leibniz Centre for European Economic Research.
    7. Rafael Di Tella & Juan Dubra, 2013. "Fairness and Redistribution, a comment," Documentos de Trabajo/Working Papers 1302, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..

  17. , & ,, 2013. "Selection-free predictions in global games with endogenous information and multiple equilibria," Theoretical Economics, Econometric Society, vol. 8(3), September.
    See citations under working paper version above.
  18. Angeletos, George-Marios & Panousi, Vasia, 2011. "Financial integration, entrepreneurial risk and global dynamics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 863-896, May.
    See citations under working paper version above.
  19. Aghion, Philippe & Angeletos, George-Marios & Banerjee, Abhijit & Manova, Kalina, 2010. "Volatility and growth: Credit constraints and the composition of investment," Journal of Monetary Economics, Elsevier, vol. 57(3), pages 246-265, April.
    See citations under working paper version above.
  20. George-Marios Angeletos & Alessandro Pavan, 2009. "Policy with Dispersed Information," Journal of the European Economic Association, MIT Press, vol. 7(1), pages 11-60, March.
    See citations under working paper version above.
  21. Angeletos, George-Marios & La’O, Jennifer, 2009. "Incomplete information, higher-order beliefs and price inertia," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 19-37.
    See citations under working paper version above.
  22. Angeletos, George-Marios & Panousi, Vasia, 2009. "Revisiting the supply side effects of government spending," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 137-153, March.

    Cited by:

    1. Angeletos, George-Marios & Panousi, Vasia, 2011. "Financial integration, entrepreneurial risk and global dynamics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 863-896, May.
    2. Germaschewski, Yin, 2013. "Reserve financing and government infrastructure investment: An application to China," Journal of Policy Modeling, Elsevier, vol. 35(6), pages 992-1013.
    3. Shin, Geiguen, 2020. "The direct and indirect impacts of liberal immigration policies on the United States' economy," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 14, pages 1-29.
    4. Edouard Challe & Xavier Ragot, 2010. "Fiscal Policy in a Tractable Liquidity-Constrained Economy," Working papers 297, Banque de France.
    5. Bacchetta, Philippe & Benhima, Kenza & Kalantzis, Yannick, 2020. "Money and capital in a persistent liquidity trap," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 70-87.
    6. Pavoni, Nicola & Ercolani, Valerio, 2014. "The Precautionary Saving Effect of Government Consumption," CEPR Discussion Papers 10067, Centre for Economic Policy Research.
    7. Benhima, Kenza & Massenot, Baptiste, 2013. "Safety Traps," CEPR Discussion Papers 9636, Centre for Economic Policy Research.
    8. Toda, Alexis Akira, 2014. "Incomplete market dynamics and cross-sectional distributions," Journal of Economic Theory, Elsevier, vol. 154(C), pages 310-348.
    9. Jason M. DeBacker & Bradley T. Heim & Vasia Panousi & Shanthi Ramnath & Ivan Vidangos, 2012. "The properties of income risk in privately held businesses," Finance and Economics Discussion Series 2012-69, Board of Governors of the Federal Reserve System (U.S.).
    10. Trimborn, Timo & Strulik, Holger, 2011. "The Dark Side of Fiscal Stimulus," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48725, Verein für Socialpolitik / German Economic Association.
    11. Toda, Alexis Akira, 2016. "Zipf's Law: A Microfoundation," MPRA Paper 78985, University Library of Munich, Germany.
    12. Yun Jung Kim & Jing Zhang, 2023. "International Capital Flows: Private Versus Public Flows In Developing And Developed Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 225-260, February.
    13. Benhima, Kenza, 2013. "A reappraisal of the allocation puzzle through the portfolio approach," Journal of International Economics, Elsevier, vol. 89(2), pages 331-346.
    14. George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.
    15. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-47, Board of Governors of the Federal Reserve System (U.S.).
    16. Mwoya Byaro & Anicet Rwezaula & Jackson Bulili & Romanus Dimoso, 2025. "Assessing Monetary and Fiscal Policy Measures to Promote the Sustainability of Domestic and Foreign Direct Investment in Sub‐Saharan Africa," World Affairs, John Wiley & Sons, vol. 188(4), December.
    17. Panousi, Vasia, 2009. "Capital Taxation with Entrepreneurial Risk," MPRA Paper 24237, University Library of Munich, Germany.
    18. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-31, Board of Governors of the Federal Reserve System (U.S.).
    19. Jonathan Goldberg, 2014. "Idiosyncratic Investment Risk and Business Cycles," Finance and Economics Discussion Series 2014-05, Board of Governors of the Federal Reserve System (U.S.).
    20. Getachew, Yoseph Yilma, 2012. "Do Ak models really lack transitional dynamics?," MERIT Working Papers 2012-011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    21. Canzoneri, Matthew B & Dellas, Harris & Diba, Behzad & Collard, Fabrice, 2015. "Fiscal Multipliers in Recessions," CEPR Discussion Papers 10353, Centre for Economic Policy Research.
    22. Pragidis, I.C. & Tsintzos, P. & Plakandaras, B., 2018. "Asymmetric effects of government spending shocks during the financial cycle," Economic Modelling, Elsevier, vol. 68(C), pages 372-387.
    23. Qichun He & Yulei Luo & Jun Nie & Heng-fu Zou, 2023. "Money, Growth, and Welfare in a Schumpeterian Model with the Spirit of Capitalism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 346-372, January.
    24. R. Anton Braun & Tomoyuki Nakajima, 2016. "Uninsured risk, stagnation, and fiscal policy," FRB Atlanta Working Paper 2016-4, Federal Reserve Bank of Atlanta.
    25. Holger Strulik & Timo Trimborn, 2017. "The Spending Multiplier in the Medium Run," German Economic Review, Verein für Socialpolitik, vol. 18(2), pages 154-181, May.
    26. Christoph Winter & Sigrid Roehrs, 2014. "Reducing Government Debt in the Presence of Inequality," 2014 Meeting Papers 176, Society for Economic Dynamics.
    27. Yang, C.C. & Zhao, Xueya & Zhu, Shenghao, 2023. "Tax progressivity and the Pareto tail of income distributions," Economics Letters, Elsevier, vol. 231(C).
    28. David Leuwer & Bernd Süssmuth, 2018. "Assessing Temporary Product-Specific Subsidies: A Time Series Intervention Analysis," CESifo Working Paper Series 6946, CESifo.
    29. Thomas Phelan, 2025. "On The Optimality Of Differential Asset Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(1), pages 53-78, February.
    30. Wulff, Alexander & Heinemann, Maik, 2015. "Idiosyncratic Risk, Borrowing Constraints and Financial Integration - A Discussion of Ambiguous Results," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113165, Verein für Socialpolitik / German Economic Association.

  23. George-Marios Angeletos & Alessandro Pavan, 2007. "Efficient Use of Information and Social Value of Information," Econometrica, Econometric Society, vol. 75(4), pages 1103-1142, July.

    Cited by:

    1. Camille Cornand & Frank Heinemann, 2010. "Measuring Agents' Reaction to Private and Public Information in Games with Strategic Complementarities," CESifo Working Paper Series 2947, CESifo.
    2. Nimark, Kristoffer P, 2017. "Dynamic Higher Order Expectations," CEPR Discussion Papers 11863, Centre for Economic Policy Research.
    3. Roy, Sunanda & Singh, Rajesh & Weninger, Quinn, 2024. "Entry under placement uncertainty," Games and Economic Behavior, Elsevier, vol. 145(C), pages 157-196.
    4. Baek, Seungjun, 2022. "Optimal policy in lemon markets with flexible information acquisition," Economic Modelling, Elsevier, vol. 106(C).
    5. Melosi, Leonardo & Campbell, Jeffrey & Ferroni, Filippo & Fisher, Jonas, 2019. "The Limits of Forward Guidance," CEPR Discussion Papers 13612, Centre for Economic Policy Research.
    6. Xavier Vives, 2009. "Strategic Supply Function Competition with Private Information," CESifo Working Paper Series 2856, CESifo.
    7. Angeletos, George-Marios & La’O, Jennifer, 2009. "Incomplete information, higher-order beliefs and price inertia," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 19-37.
    8. Colo, Philippe, 2021. "Cassandra's Curse: A Second Tragedy of the Commons," MPRA Paper 110878, University Library of Munich, Germany.
    9. Albagli, Elias & Hellwig, Christian & Tsyvinski, Aleh, 2018. "Imperfect Financial Markets and Investment Inefficiencies," TSE Working Papers 18-891, Toulouse School of Economics (TSE), revised Feb 2023.
    10. Andrea Galeotti & Benjamin Golub & Sanjeev Goyal & Rithvik Rao, 2021. "Discord and Harmony in Networks," Papers 2102.13309, arXiv.org.
    11. Bruno, Randolph Luca, 2008. "Rule of Law, Institutional Quality and Information," IZA Discussion Papers 3497, IZA Network @ LISER.
    12. Gabriel Desgranges & Céline Rochon, 2013. "Conformism and public news," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(3), pages 1061-1090, April.
    13. Khadjavi, Menusch & Lange, Andreas & Nicklisch, Andreas, 2014. "The Social Value of Transparency and Accountabilityː Experimental Evidence from Asymmetric Public Goods Games," WiSo-HH Working Paper Series 12, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    14. Camille Cornand & Rodolphe Dos Santos Ferreira, 2016. "Playing the game the others want to play: Keynes’ beauty contest revisited," Working Papers of BETA 2016-20, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    15. Facundo Albornoz & Jake Bradley & Silvia Sonderegger, 2022. "Updating the Social Norm: the Case of Hate Crime after the Brexit Referendum," Working Papers 203, Red Nacional de Investigadores en Economía (RedNIE).
    16. Qi Chen & Tracy R. Lewis & Katherine Schipper & Yun Zhang, 2017. "Uniform Versus Discretionary Regimes in Reporting Information with Unverifiable Precision and a Coordination Role," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 153-196, March.
    17. Dmitry Shapiro & Xianwen Shi & Artie Zillante, 2009. "Robustness of Level-k Reasoning in Generalized Beauty Contest Games," Working Papers tecipa-380, University of Toronto, Department of Economics.
    18. Benhima, Kenza, 2019. "Booms and busts with dispersed information," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 32-47.
    19. Laura Veldkamp & Isaac Baley, 2021. "Bayesian Learning," Working Papers 1287, Barcelona School of Economics.
    20. Chade, Hector & Eeckhout, Jan, 2018. "Matching information," Theoretical Economics, Econometric Society, vol. 13(1), January.
    21. Camille Cornand & Rodolphe Dos Santos Ferreira, 2017. "The social value of information and the competition motive: Price vs. quantity games," Working Papers 1727, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    22. Ricardo T. Fernholz, 2015. "Exchange Rate Manipulation And Constructive Ambiguity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(4), pages 1323-1348, November.
    23. Ui, Takashi, 2016. "Bayesian Nash equilibrium and variational inequalities," Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 139-146.
    24. George-Marios Angeletos & Jennifer La'O, 2011. "Decentralization, Communication, and the Origins of Fluctuations," NBER Working Papers 17060, National Bureau of Economic Research, Inc.
    25. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," NBER Working Papers 17229, National Bureau of Economic Research, Inc.
    26. Camille Cornand & Frank Heinemann, 2018. "Monetary Policy obeying the Taylor Principle Turns Prices into Strategic Substitutes," Working Papers 1805, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    27. Ando, Sakai, 2021. "Size-dependent policies and risky firm creation," Journal of Public Economics, Elsevier, vol. 197(C).
    28. Chen Lian, 2021. "A Theory of Narrow Thinking," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(5), pages 2344-2374.
    29. Camille Cornand & Rodolphe Dos Santos Ferreira, 2015. "Cooperation in a differentiated duopoly when information is dispersed: A beauty contest game with endogenous concern for coordination," Working Papers 1501, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    30. Yukio Koriyama & Ali Ihsan Ozkes, 2017. "Condorcet Jury Theorem and Cognitive Hierarchies: Theory and Experiments," Working Papers halshs-01485748, HAL.
    31. Maćkowiak, Bartosz & Wiederholt, Mirko, 2009. "Optimal sticky prices under rational inattention," Working Paper Series 1009, European Central Bank.
    32. Ina A Taneva, 2015. "Information Design," Edinburgh School of Economics Discussion Paper Series 256, Edinburgh School of Economics, University of Edinburgh.
    33. Benhabib, Jess & Liu, Xuewen & Wang, Pengfei, 2016. "Endogenous information acquisition and countercyclical uncertainty," Journal of Economic Theory, Elsevier, vol. 165(C), pages 601-642.
    34. Nimark, Kristoffer P. & Pitschner, Stefan, 2019. "News media and delegated information choice," Journal of Economic Theory, Elsevier, vol. 181(C), pages 160-196.
    35. George‐Marios Angeletos & Fabrice Collard & Harris Dellas, 2018. "Quantifying Confidence," Econometrica, Econometric Society, vol. 86(5), pages 1689-1726, September.
    36. Mathieu Taschereau-Dumouchel & Edouard Schaal, 2015. "Coordinating Business Cycles," 2015 Meeting Papers 178, Society for Economic Dynamics.
    37. Ryan A Chahrour, 2011. "Transparency and Costly Information Acquisition," 2011 Meeting Papers 1221, Society for Economic Dynamics.
    38. Romain Baeriswyl & Kene Boun My & Camille Cornand, 2019. "Double overreaction in beauty-contests with information acquisition: theory and experiment," Working Papers 1932, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    39. Chengcheng Jia, 2019. "The Informational Effect of Monetary Policy and the Case for Policy Commitment," Working Papers 19-07R, Federal Reserve Bank of Cleveland, revised 09 May 2022.
    40. Büchel, Berno & Mechtenberg, Lydia & Wagner, Alexander F., 2023. "When Do Proxy Advisors Improve Corporate Decisions?," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277704, Verein für Socialpolitik / German Economic Association.
    41. Dai Zusai, 2023. "Evolutionary dynamics in heterogeneous populations: a general framework for an arbitrary type distribution," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(4), pages 1215-1260, December.
    42. Sergio Currarini & Francesco Feri, 2015. "Information sharing networks in linear quadratic games," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(3), pages 701-732, August.
    43. Pavan, Alessandro, 2025. "Attention, coordination, and bounded recall," Journal of Economic Theory, Elsevier, vol. 227(C).
    44. Christian König-Kersting & Stefan Trautmann & Razvan Vlahu, 2020. "Bank instability: Interbank linkages and the role of disclosure," Working Papers 665, DNB.
    45. Venky Venkateswaran, 2011. "Heterogeneous Information and Labor Market Fluctuations," 2011 Meeting Papers 1292, Society for Economic Dynamics.
    46. Dirk Bergemann & Stephen Morris, 2012. "Robust Predictions in Games with Incomplete Information," Levine's Working Paper Archive 786969000000000601, David K. Levine.
    47. Rondina, Giacomo & Walker, Todd B., 2021. "Confounding dynamics," Journal of Economic Theory, Elsevier, vol. 196(C).
    48. Ippei FUJIWARA & Yuichiro WAKI, 2016. "Private News and Monetary Policy: Forward guidance or the expected virtue of ignorance," Discussion papers 16027, Research Institute of Economy, Trade and Industry (RIETI).
    49. Broer, Tobias & Kohlhas, Alexandre N. & Mitman, Kurt & Schlafmann, Kathrin, 2022. "On the possibility of Krusell-Smith Equilibria," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    50. Camille Cornand & Romain Baeriswyl & Bruno Ziliotto, 2019. "Observing and shaping the market: the dilemma of central banks," Post-Print hal-01644269, HAL.
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    2. Angeletos, George-Marios & Panousi, Vasia, 2011. "Financial integration, entrepreneurial risk and global dynamics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 863-896, May.
    3. John Stachurski, 2009. "Economic Dynamics: Theory and Computation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012774, December.
    4. Aghion, Philippe & Angeletos, George-Marios & Banerjee, Abhijit & Manova, Kalina, 2010. "Volatility and growth: Credit constraints and the composition of investment," Scholarly Articles 12490636, Harvard University Department of Economics.
    5. Ghiglino, Christian & Tabasso, Nicole, 2016. "Risk aversion in a model of endogenous growth," Journal of Mathematical Economics, Elsevier, vol. 64(C), pages 30-40.
    6. Maximiliano Dvorkin, 2023. "Heterogeneous Agents Dynamic Spatial General Equilibrium," Working Papers 2023-005, Federal Reserve Bank of St. Louis.
    7. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," FRB Atlanta Working Paper 2014-24, Federal Reserve Bank of Atlanta.
    8. Quoc Hung Nguyen, 2019. "Growth Model with Financial Deepening and Productivity Heterogeneity," The Japanese Economic Review, Springer, vol. 70(1), pages 123-140, March.
    9. R. Anton Braun & Tomoyuki Nakajima, 2011. "Uninsured countercyclical risk: an aggregation result and application to optimal monetary policy," FRB Atlanta Working Paper 2011-04, Federal Reserve Bank of Atlanta.
    10. Konstantinos Angelopoulos & Spyridon Lazarakis & Rebecca Mancy & Dorice Agol & Elissaios Papyrakis, 2023. "Resource Risk and the Origins of Inequality: Evidence from a Pastoralist Economy," CESifo Working Paper Series 10611, CESifo.
    11. Claudio Michelacci & Fabiano Schivardi, 2010. "Does Idiosyncratic Business Risk Matter?," Working Papers CELEG 1002, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    12. Caggese, Andrea, 2012. "Entrepreneurial risk, investment, and innovation," Journal of Financial Economics, Elsevier, vol. 106(2), pages 287-307.
    13. Enrique G. Mendoza & Vincenzo Quadrini & Jose-Victor Rios-Rull, 2007. "Financial Integration, Financial Deepness and Global Imbalances," NBER Working Papers 12909, National Bureau of Economic Research, Inc.
    14. Per Krusell, 2009. "A Global Equilibrium Model of Economy-Climate Interactions," 2009 Meeting Papers 1186, Society for Economic Dynamics.
    15. Jurgen von Hagen & Haiping Zhang, 2011. "International Capital Flows with Limited Commitment and Incomplete Markets," Working Papers 17-2011, Singapore Management University, School of Economics.
    16. George-Marios Angeletos & Vasia Panousi, 2007. "Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets," NBER Working Papers 13136, National Bureau of Economic Research, Inc.
    17. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained inefficiency and optimal taxation with uninsurable risks," FRB Atlanta Working Paper 2014-25, Federal Reserve Bank of Atlanta.
    18. François Gourio, 2009. "Disasters Risk and Business Cycles," NBER Working Papers 15399, National Bureau of Economic Research, Inc.
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    20. Hisahiro Naito, 2018. "Welfare-improving Consumption Tax in the Presence of Wage Tax under Idiosyncratic Returns from Investment and Incomplete Markets," Tsukuba Economics Working Papers 2018-002, Faculty of Humanities and Social Sciences, University of Tsukuba.
    21. Marina Azzimonti & Vincenzo Quadrini, 2012. "Financial globalization, inequality, and the raising of public debt," Working Papers 12-6, Federal Reserve Bank of Philadelphia.
    22. Brunnermeier, M.K. & Sannikov, Y., 2016. "Macro, Money, and Finance," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1497-1545, Elsevier.
    23. Andrea Modena & Luca Regis, 2024. "Capital risk, fiscal policy, and the distribution of wealth," Mathematics and Financial Economics, Springer, volume 18, number 8, March.
    24. Francois Gourio, 2010. "Credit risk and Disaster risk," 2010 Meeting Papers 112, Society for Economic Dynamics.
    25. Juan Carlos Parra-Alvarez & Olaf Posch & Mu-Chun Wang, 2020. "Estimation of heterogeneous agent models: A likelihood approach," CREATES Research Papers 2020-05, Department of Economics and Business Economics, Aarhus University.
    26. Benjamin Pugsley & Sebastian Dyrda, 2017. "Taxes, Regulations of Businesses and Evolution of Income Inequality in the US," 2017 Meeting Papers 1463, Society for Economic Dynamics.
    27. Ali Shourideh & Ariel Zetlin-Jones, 2012. "External Financing and the Role of Financial Frictions over the Business Cycle: Measurement and Theory," GSIA Working Papers 2014-E15, Carnegie Mellon University, Tepper School of Business.
    28. Carvajal, Andrés & Polemarchakis, Herakles, 2011. "Idiosyncratic risk and financial policy," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1569-1597, July.
    29. Amol Amol & Erzo G. J. Luttmer, 2022. "Permanent Primary Deficits, Idiosyncratic Long-Run Risk, and Growth," Working Papers 794, Federal Reserve Bank of Minneapolis.
    30. Hoang Khieu, 2024. "On the distribution of lifetime wealth accumulation," Journal of Economics, Springer, vol. 143(1), pages 87-100, September.
    31. Markus K. Brunnermeier & Thomas M. Eisenbach & Yuliy Sannikov, 2012. "Macroeconomics with Financial Frictions: A Survey," NBER Working Papers 18102, National Bureau of Economic Research, Inc.
    32. Adrien Bilal & Esteban Rossi-Hansberg, 2018. "Location as an Asset," Opportunity and Inclusive Growth Institute Working Papers 12, Federal Reserve Bank of Minneapolis.
    33. Kunieda, Takuma & Shibata, Akihisa, 2016. "Asset bubbles, economic growth, and a self-fulfilling financial crisis," Journal of Monetary Economics, Elsevier, vol. 82(C), pages 70-84.
    34. Hoang Khieu & Klaus Wälde, 2019. "Capital Income Risk and the Dynamics of the Wealth Distribution," CESifo Working Paper Series 7970, CESifo.
    35. Benny Kleinman & Ernest Liu & Stephen J. Redding & Motohiro Yogo, 2023. "Neoclassical Growth in an Interdependent World," Working Papers 2023-02, Princeton University. Economics Department..
    36. Villalvazo, Sergio, 2026. "Inequality and asset prices during Sudden Stops," Journal of Monetary Economics, Elsevier, vol. 157(C).
    37. Ricardo T. Fernholz, 2016. "A Statistical Model of Inequality," Papers 1601.04093, arXiv.org.
    38. Hakki Yazici, 2008. "Business Start-ups and Productive Efficiency," 2008 Meeting Papers 1043, Society for Economic Dynamics.
    39. R. Anton BRAUN & Tomoyuki NAKAJIMA, 2009. "Optimal Monetary Policy When Asset Markets are Incomplete," Discussion papers 09050, Research Institute of Economy, Trade and Industry (RIETI).
    40. Acharya, Sushant & Dogra, Keshav, 2020. "The Side Effects of Safe Asset Creation," CEPR Discussion Papers 14440, Centre for Economic Policy Research.
    41. Biais, Bruno & Gersbach, Hans & Rochet, Jean-Charles & Villeneuve, Stéphane, 2026. "Dynamic Efficiency With Private Information," TSE Working Papers 26-1724, Toulouse School of Economics (TSE).
    42. Tomoyuki Nakajima & Atsushi Kajii & Piero Gottardi, 2011. "Optimal taxation and constrained inefficiency in an in finite-horizon economy with incomplete markets," 2011 Meeting Papers 455, Society for Economic Dynamics.
    43. Brunnermeier, Markus & Sannikov, Yuliy, 2016. "Macro, Money and Finance: A Continuous Time Approach," CEPR Discussion Papers 11329, Centre for Economic Policy Research.
    44. Adriana Gama, 2017. "Standards, taxes and social welfare," Serie documentos de trabajo del Centro de Estudios Económicos 2017-04, El Colegio de México, Centro de Estudios Económicos.
    45. Jesus Fernandez-Villaverde & Pablo Guerron-Quintana & Juan F. Rubio-Ramirez & Martin Uribe, 2011. "Risk Matters: The Real Effects of Volatility Shocks," American Economic Review, American Economic Association, vol. 101(6), pages 2530-2561, October.
    46. Sergio Salas, 2018. "On financial deepening and long-run growth," Journal of Economics, Springer, vol. 123(3), pages 249-276, April.
    47. Hassan, Tarek & Mertens, Thomas M., 2014. "The Social Cost of Near-Rational Investment," CEPR Discussion Papers 10007, Centre for Economic Policy Research.
    48. Miyoshi, Yoshiyuki & Toda, Alexis Akira, 2017. "Growth effects of annuities and government transfers in perpetual youth models," Journal of Mathematical Economics, Elsevier, vol. 72(C), pages 1-6.
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  26. George-Marios Angeletos & Alessandro Pavan, 2007. "Socially Optimal Coordination: Characterization and Policy Implications," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 585-593, 04-05.
    See citations under working paper version above.
  27. Angeletos, George-Marios & Calvet, Laurent-Emmanuel, 2006. "Idiosyncratic production risk, growth and the business cycle," Journal of Monetary Economics, Elsevier, vol. 53(6), pages 1095-1115, September.
    See citations under working paper version above.
  28. Manuel Amador & Iván Werning & George-Marios Angeletos, 2006. "Commitment vs. Flexibility," Econometrica, Econometric Society, vol. 74(2), pages 365-396, March.
    See citations under working paper version above.
  29. Iván Werning & George-Marios Angeletos, 2006. "Crises and Prices: Information Aggregation, Multiplicity, and Volatility," American Economic Review, American Economic Association, vol. 96(5), pages 1720-1736, December.
    See citations under working paper version above.
  30. George-Marios Angeletos & Christian Hellwig & Alessandro Pavan, 2006. "Signaling in a Global Game: Coordination and Policy Traps," Journal of Political Economy, University of Chicago Press, vol. 114(3), pages 452-484, June.
    See citations under working paper version above.
  31. Alberto Alesina & George-Marios Angeletos, 2005. "Fairness and Redistribution," American Economic Review, American Economic Association, vol. 95(4), pages 960-980, September.
    See citations under working paper version above.
  32. Alesina, Alberto & Angeletos, George-Marios, 2005. "Corruption, inequality, and fairness," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1227-1244, October.
    See citations under working paper version above.
  33. Angeletos, George-Marios & Calvet, Laurent-Emmanuel, 2005. "Incomplete-market dynamics in a neoclassical production economy," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 407-438, August.
    See citations under working paper version above.
  34. George-Marios Angeletos & Alessandro Pavan, 2004. "Transparency of Information and Coordination in Economies with Investment Complementarities," American Economic Review, American Economic Association, vol. 94(2), pages 91-98, May.
    See citations under working paper version above.
  35. George-Marios Angeletos, 2002. "Fiscal Policy with Noncontingent Debt and the Optimal Maturity Structure," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(3), pages 1105-1131.

    Cited by:

    1. Kokonas, Nikos & Polemarchakis, Herakles, "undated". "Suboptimality with land," Economic Research Papers 269722, University of Warwick - Department of Economics.
    2. Eidam, Frederik, 2020. "Gap-filling government debt maturity choice," ESRB Working Paper Series 110, European Systemic Risk Board.
    3. Equiza-Goni, J. & Faraglia, E. & Oikonomou, R., 2018. "Union Debt Management," Cambridge Working Papers in Economics 1890, Faculty of Economics, University of Cambridge.
    4. Eidam, Frederik, 2018. "Gap-filling government debt maturity choice," ZEW Discussion Papers 18-025, ZEW - Leibniz Centre for European Economic Research.
    5. ,, 2008. "Debt Maturity without Commitment," CEPR Discussion Papers 7093, Centre for Economic Policy Research.
    6. Adam, Klaus, 2012. "Optimal Sovereign Default," CEPR Discussion Papers 9178, Centre for Economic Policy Research.
    7. Levy, Antoine & Ricci, Luca Antonio & Werner, Alejandro, 2020. "The Sources of Fiscal Fluctuations," CEPR Discussion Papers 15450, Centre for Economic Policy Research.
    8. Boris Chafwehé & Charles de Beauffort & Rigas Oikonomou, 2022. "Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level," LIDAM Discussion Papers IRES 2022007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    9. Giovanni Callegari & Ramon Marimon & Adrien Wicht & Luca Zavalloni, 2023. "On a Lender of Last Resort with a Central Bank and a Stability Fund," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 106-130, October.
    10. Chugh, Sanjay K., 2007. "Optimal inflation persistence: Ramsey taxation with capital and habits," Journal of Monetary Economics, Elsevier, vol. 54(6), pages 1809-1836, September.
    11. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2008. "Optimal fiscal and monetary policy: equivalence results," Staff Report 403, Federal Reserve Bank of Minneapolis.
    12. Johannes Holler, 2013. "Funding Strategies of Sovereign Debt Management: A Risk Focus," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 51-74.
    13. Matthias Fleckenstein & Francis A. Longstaff & Hanno Lustig, 2010. "Why Does the Treasury Issue Tips? The Tips-Treasury Bond Puzzle," NBER Working Papers 16358, National Bureau of Economic Research, Inc.
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    1. CREMER, Helmuth & DE DONDER, Philippe & MALDONADO, Dario & PESTIEAU, Pierre, 2006. "Voting over type and generosity of a pension system when some individuals are myopic," LIDAM Discussion Papers CORE 2006079, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    3. Pagel, Michaela, 2013. "Expectations-Based Reference-Dependent Life-Cycle Consumption," MPRA Paper 47138, University Library of Munich, Germany.
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    6. W. Kip Viscusi & Joel Huber, 2006. "Hyperbolic Discounting of Public Goods," NBER Working Papers 11935, National Bureau of Economic Research, Inc.
    7. Jeffrey Carpenter & Justin Garcia & J. Lum, 2011. "Dopamine receptor genes predict risk preferences, time preferences, and related economic choices," Journal of Risk and Uncertainty, Springer, vol. 42(3), pages 233-261, June.
    8. Koç, E., 2015. "Job Finding, Job Loss and Consumption Behaviour," Discussion Paper 2015-015, Tilburg University, Center for Economic Research.
    9. Makoto Nakajima, 2011. "Rising indebtedness and temptation: a welfare analysis," Working Papers 11-39, Federal Reserve Bank of Philadelphia.
    10. Koren, Miklós & Szeidl, Adam, 2003. "Portfolio Choice with Illiquid Assets," CEPR Discussion Papers 3795, Centre for Economic Policy Research.
    11. Agarwal, Sumit & Koo, Kang Mo & Qian, Wenlan, 2022. "Consumption response to temporary price shock: Evidence from Singapore's annual sale event," Journal of Financial Intermediation, Elsevier, vol. 51(C).
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    13. Giles W Story & Ivo Vlaev & Peter Dayan & Ben Seymour & Ara Darzi & Raymond J Dolan, 2015. "Anticipation and Choice Heuristics in the Dynamic Consumption of Pain Relief," PLOS Computational Biology, Public Library of Science, vol. 11(3), pages 1-32, March.
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    17. Minwook Kang & Lei Sandy Ye, 2021. "Can Optimism be a Remedy for Present Bias?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 201-231, February.
    18. Moser, Christian & Olea de Souza e Silva, Pedro, 2019. "Optimal Paternalistic Savings Policies," MPRA Paper 95383, University Library of Munich, Germany.
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    38. Werner, Katharina & Strulik, Holger, 2020. "Renewable Resource Use with Imperfect Self-Control," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224628, Verein für Socialpolitik / German Economic Association.
    39. Arthur J. Robson, 2002. "Evolution and Human Nature," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 89-106, Spring.
    40. Beshears, John Leonard & Choi, James J. & Laibson, David I. & Madrian, Brigitte, 2008. "How Are Preferences Revealed?," Scholarly Articles 11130523, Harvard University Department of Economics.
    41. Steven Haider & Melvin Stephens Jr., 2004. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," NBER Working Papers 10257, National Bureau of Economic Research, Inc.
    42. Cairns, John, 2006. "Developments in discounting: With special reference to future health events," Resource and Energy Economics, Elsevier, vol. 28(3), pages 282-297, August.
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    44. Lu, Yang & Zhuang, Xintian, 2014. "The impact of gender and working experience on intertemporal choices," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 409(C), pages 146-153.
    45. Schade, Christian & Snir, Avichai, 2012. "When the stress of quitting meets the cost of playing: An Experiment on to quit or not to quit?," Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers 134426, Humboldt University Berlin, Department of Agricultural Economics.
    46. Arna Olafsson & Michaela Pagel, 2018. "The Liquid Hand-to-Mouth: Evidence from Personal Finance Management Software," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4398-4446.
    47. Atahan Afsar; José Elías Gallegos; Richard Jaimes; Edgar Silgado Gómez & Jos� El�as Gallegos & Richard Jaimes & Edgar Silgado G�mez, 2020. "Reconciling Empirics and Theory: The Behavioral Hybrid New Keynesian Model," Vniversitas Económica, Universidad Javeriana - Bogotá, vol. 0(0), pages 1-41.
    48. Küng, Lorenz & Baker, Scott & Johnson, Stephanie, 2020. "Financial Returns to Household Inventory Management," CEPR Discussion Papers 15191, Centre for Economic Policy Research.
    49. Groneck, Max & Ludwig, Alexander & Zimper, Alexander, 2013. "Ambiguous Survival Beliefs and Hyperbolic Discounting in a Life-Cycle Model," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79878, Verein für Socialpolitik / German Economic Association.
    50. Michal Grinstein-Weiss & Blair D. Russell & William G. Gale & Clinton Key & Dan Ariely, 2017. "Behavioral Interventions to Increase Tax-Time Saving: Evidence from a National Randomized Trial," Journal of Consumer Affairs, Wiley Blackwell, vol. 51(1), pages 3-26, March.
    51. Soheil Ghili & Ben Handel & Igal Hendel & Michael D. Whinston, 2019. "Optimal Long-Term Health Insurance Contracts: Characterization, Computation, and Welfare Effects," Cowles Foundation Discussion Papers 2218R2, Cowles Foundation for Research in Economics, Yale University, revised May 2021.
    52. Ali Goli & Amandeep Singh, 2024. "Frontiers: Can Large Language Models Capture Human Preferences?," Marketing Science, INFORMS, vol. 43(4), pages 709-722, July.
    53. Cardenas, Juan Camilo & Carpenter, Jeffrey, 2013. "Risk attitudes and economic well-being in Latin America," Journal of Development Economics, Elsevier, vol. 103(C), pages 52-61.
    54. Qing Li & Peiwen Yu, 2025. "Self-Control in the Face of Multiple Projects," Manufacturing & Service Operations Management, INFORMS, vol. 27(5), pages 1449-1463, September.
    55. Carpenter, Craig & Cotti, Chad, 2026. "The Short-run Effects of Monthly WIC Distributions," 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri 404589, Agricultural and Applied Economics Association.
    56. David Laibson & Sean Chanwook Lee & Peter Maxted & Andrea Repetto & Jeremy Tobacman, 2007. "Estimating Discount Functions with Consumption Choices over the Lifecycle," NBER Working Papers 13314, National Bureau of Economic Research, Inc.
    57. Kirill Borissov & Mikhail Pakhnin & Ronald Wendner, 2021. "The Neoclassical Growth Model with Time-Inconsistent Decision Making and Perfect Foresight," Graz Economics Papers 2021-08, University of Graz, Department of Economics.
    58. Michelle Baddeley, 2019. "Behavioural Macroeconomic Policy: New perspectives on time inconsistency," Papers 1907.07858, arXiv.org.
    59. Shinsuke Ikeda & Myong-Il Kang, 2015. "Hyperbolic Discounting, Borrowing Aversion and Debt Holding," The Japanese Economic Review, Japanese Economic Association, vol. 66(4), pages 421-446, December.
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    61. Gelman, Michael, 2021. "What drives heterogeneity in the marginal propensity to consume? Temporary shocks vs persistent characteristics," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 521-542.
    62. Piccoli, Luca & Tiezzi, Silvia, 2021. "Rational addiction and time-consistency: An empirical test," Journal of Health Economics, Elsevier, vol. 80(C).
    63. Anderberg, Dan & Rainer, Helmut & Roeder, Kerstin, 2018. "Family-specific investments and divorce with dynamically inconsistent households: Marital contracts and policy," Journal of Economic Behavior & Organization, Elsevier, vol. 148(C), pages 199-225.
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    65. Bernd Hayo & Florian Neumeier, 2014. "Public Preferences for Government Spending Priorities: Survey Evidence from Germany," MAGKS Papers on Economics 201457, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    66. Gugerty, Mary Kay, 2007. "You Can't Save Alone: Commitment in Rotating Savings and Credit Associations in Kenya," Economic Development and Cultural Change, University of Chicago Press, vol. 55(2), pages 251-282, January.
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    69. Harstad, Bård, 2021. "A Theory of Pledge-and-Review Bargaining," Memorandum 5/2022, Oslo University, Department of Economics, revised 21 Jun 2021.
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    281. Jonathan A. Parker, 2015. "Why Don't Households Smooth Consumption? Evidence from a 25 Million Dollar Experiment," NBER Working Papers 21369, National Bureau of Economic Research, Inc.
    282. Wenli Li & Fang Yang & Michael Dotsey, 2010. "Consumption and Home Production over the Life Cycle," 2010 Meeting Papers 423, Society for Economic Dynamics.
    283. Love, David A., 2017. "Countercyclical retirement accounts," European Economic Review, Elsevier, vol. 98(C), pages 32-48.
    284. Minwook Kang & Eungsik Kim, 2025. "Age‐independent subsidy nudges under self‐control problems," Economic Inquiry, Western Economic Association International, vol. 63(4), pages 1291-1312, October.
    285. Carolina Laureti & Ariane Szafarz, 2012. "The Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers," Working Papers CEB 12-035, ULB -- Universite Libre de Bruxelles.
    286. Paxton, Julia & Young, Lauren, 2011. "Liquidity Profiles of Poor Mexican Households," World Development, Elsevier, vol. 39(4), pages 600-610, April.
    287. Jihyo Kim & Suhyeon Nam, 2021. "Do Household Time, Risk, and Social Preferences Affect Home Energy Retrofit Decisions in Korea?," Sustainability, MDPI, vol. 13(8), pages 1-18, April.
    288. José M. Labeaga & Rubén Osuna, 2007. "Expenditures at retirement by Spanish households," Working Papers 2007-36, FEDEA.
    289. Gruber, Jonathan & Koszegi, Botond, 2004. "Tax incidence when individuals are time-inconsistent: the case of cigarette excise taxes," Journal of Public Economics, Elsevier, vol. 88(9-10), pages 1959-1987, August.
    290. Bassem Ben Halima & Mohamed Ali Ben Halima, 2009. "Time Preferences and Job Search: Evidence from France," LABOUR, CEIS, vol. 23(3), pages 535-558, September.
    291. Malmendier, Ulrike M. & Della Vigna, Stefano, 2003. "Contract Design and Self Control: Theory and Evidence," Research Papers 1801, Stanford University, Graduate School of Business.
    292. Cockx, Bart & Ghirelli, Corinna & Van der Linden, Bruno, 2014. "Is it socially efficient to impose job search requirements on unemployed benefit claimants with hyperbolic preferences?," Journal of Public Economics, Elsevier, vol. 113(C), pages 80-95.
    293. Bräuer, Konstantin & Hackethal, Andreas & Hanspal, Tobin, 2020. "Consuming dividends," SAFE Working Paper Series 280, Leibniz Institute for Financial Research SAFE.
    294. Kuchler, Theresa & Pagel, Michaela, 2021. "Sticking to your plan: The role of present bias for credit card paydown," Journal of Financial Economics, Elsevier, vol. 139(2), pages 359-388.
    295. Lennart Erixon & Louise Johannesson, 2015. "Is the psychology of high profits detrimental to industrial renewal? Experimental evidence for the theory of transformation pressure," Journal of Evolutionary Economics, Springer, vol. 25(2), pages 475-511, April.
    296. Juan Carlos Chavez-Martin del Campo, 2008. "On the design of an optimal transfer schedule with time inconsistent preferences," Economics Bulletin, AccessEcon, vol. 8(5), pages 1-7.
    297. Sumit Agarwal & Souphala Chomsisengphet & Chunlin Liu & Nicholas S. Souleles, 2015. "Do Consumers Choose the Right Credit Contracts?," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 4(2), pages 239-257.
    298. Arna Vardardottir & Michaela Pagel, 2016. "The Liquid Hand-to-Mouth: Evidence from a Personal Finance Management Software," 2016 Meeting Papers 789, Society for Economic Dynamics.
    299. Gomes, Fábio Augusto Reis, 2013. "Gasto do governo e consumo privado: Substitutos ou complementares?," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(2), June.
    300. Grant Miller & Nieves Valdés & Marcos Vera-Hernandez, 2025. "More to live for: health investment responses to expected retirement wealth in Chile," IFS Working Papers W25/31, Institute for Fiscal Studies.
    301. Federico Perali & Luca Piccoli, 2022. "An Extended Theory of Rational Addiction," Mathematics, MDPI, vol. 10(15), pages 1-20, July.
    302. Alfaro, Laura & Kanczuk, Fabio, 2026. "Fiscal rules and sovereign default," Emerging Markets Review, Elsevier, vol. 70(C).
    303. Rodrigo Fernandes Malaquias & Gleison de Abreu Pontes, 2018. "Liquidity Restrictions on Investment Funds: Are they a Response to Behavioral Bias?," Brazilian Business Review, Fucape Business School, vol. 15(4), pages 382-390, July.
    304. Katherine L. Milkman & John L. Beshears, 2007. "Mental Accounting and Small Windfalls: Evidence from an Online Grocer," Harvard Business School Working Papers 08-024, Harvard Business School, revised Sep 2008.
    305. Kirill Borissov & Mikhail Pakhnin & Ronald Wendner, 2020. "Naive Agents with Quasi-hyperbolic Discounting and Perfect Foresight," EUSP Department of Economics Working Paper Series 2020/03, European University at St. Petersburg, Department of Economics.
    306. Philip H. Brown, 2003. "Dowry and Intrahousehold Bargaining: Evidence from China," William Davidson Institute Working Papers Series 2003-608, William Davidson Institute at the University of Michigan.
    307. Margherita Borella & Flavia Coda Moscarola & Mariacristina Rossi, 2014. "(Un)expected retirement and the consumption puzzle," Empirical Economics, Springer, vol. 47(2), pages 733-751, September.
    308. Yongchao Zeng & Peiwu Dong & Yingying Shi & Yang Li, 2018. "On the Disruptive Innovation Strategy of Renewable Energy Technology Diffusion: An Agent-Based Model," Energies, MDPI, vol. 11(11), pages 1-21, November.
    309. María José Luengo-Prado & Almudena Sevilla-Sanz, 2010. "Consumption, retirement and life-cycle prices: Evidence from Spain," Working Papers 2010-18, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
    310. Tina L. Saitone & Richard J. Sexton & Benoît Malan, 2018. "Price premiums, payment delays, and default risk: understanding developing country farmers’ decisions to market through a cooperative or a private trader," Agricultural Economics, International Association of Agricultural Economists, vol. 49(3), pages 363-380, May.
    311. Katherine L. Milkman & Todd Rogers & Max H. Bazerman, 2007. "Highbrow Films Gather Dust: A Study of Dynamic Inconsistency and Online DVD Rentals," Harvard Business School Working Papers 07-099, Harvard Business School, revised Apr 2008.
    312. Sera Linardi & Tomomi Tanaka, 2012. "Competition as a Savings Incentive: a Field Experiment at a Homeless Shelter," Working Paper 484, Department of Economics, University of Pittsburgh.
    313. Bando, Rosangela & Uribe, Claudia, 2016. "Experimental Evidence on Credit Constraints," IDB Publications (Working Papers) 7491, Inter-American Development Bank.
    314. Abigail Hurwitz & Orly Sade, 2025. "Is One Plus One Always Two? Insuring Longevity Risk While Having Multiple Savings Accounts," Management Science, INFORMS, vol. 71(5), pages 4474-4494, May.
    315. He, Rong & Li, Heqing & Lian, Zeng & Zheng, Jie, 2020. "The effect of culture on consumption: A behavioral approach," Journal of Asian Economics, Elsevier, vol. 67(C).
    316. Piotr Bialowolski & Dorota Weziak-Bialowolska & Eileen McNeely, 2021. "The Role of Financial Fragility and Financial Control for Well-Being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 155(3), pages 1137-1157, June.
    317. Eric Rasmusen, 2008. "Some Common Confusions about Hyperbolic Discounting," Working Papers 2008-11, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    318. Amanda King & John King, 2011. "Golden eggs versus plastic eggs: hyperbolic preferences and the persistence of debit," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 35(1), pages 93-103, January.
    319. Dániel Horn & Hubert János Kiss, 2020. "Time preferences and their life outcome correlates: Evidence from a representative survey," PLOS ONE, Public Library of Science, vol. 15(7), pages 1-26, July.
    320. Daniel J. Benjamin & Sebastian A. Brown & Jesse M. Shapiro, 2006. "Who is “Behavioral”? Cognitive Ability and Anomalous Preferences," Levine's Working Paper Archive 122247000000001334, David K. Levine.
    321. Werthschulte, Madeline, 2023. "Present focus and billing systems: Testing ‘pay-as-you-go’ vs. ‘pay-later’," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 108-121.
    322. Donald S. Kenkel & Sida Peng & Michael F. Pesko & Hua Wang, 2020. "Mostly harmless regulation? Electronic cigarettes, public policy, and consumer welfare," Health Economics, John Wiley & Sons, Ltd., vol. 29(11), pages 1364-1377, November.
    323. Makoto Nakajima, 2013. "A tale of two commitments: equilibrium default and temptation," Working Papers 14-1, Federal Reserve Bank of Philadelphia.
    324. Mathieu R. Despard & Michal Grinstein-Weiss & Chunhui Ren & Shenyang Guo & Ramesh Raghavan, 2017. "Effects of a Tax-Time Savings Intervention on Use of Alternative Financial Services among Lower-Income Households," Journal of Consumer Affairs, Wiley Blackwell, vol. 51(2), pages 355-379, July.
    325. Marcos José Pérez Monteiro & Pedro Cavalcante Ferreira & Leandro Radusweski Quintal, 2014. "The Latin American Saving Gap," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 036, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    326. Beshears, John & Dai, Hengchen & Milkman, Katherine L. & Benartzi, Shlomo, 2021. "Using fresh starts to nudge increased retirement savings," Organizational Behavior and Human Decision Processes, Elsevier, vol. 167(C), pages 72-87.
    327. Murat Yilmaz, 2018. "An Extended Survey of Time-Inconsistency and Its Applications," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 32(1), pages 55-73.
    328. Li Li & Li Jiang, 2022. "How should firms adapt pricing strategies when consumers are time‐inconsistent?," Production and Operations Management, Production and Operations Management Society, vol. 31(9), pages 3457-3473, September.
    329. Richard Dennis & Oleg Kirsanov, 2020. "Monetary Policy when Preferences are Quasi-Hyperbolic," Working Papers 2020_05, Business School - Economics, University of Glasgow.
    330. Woźny, Łukasz, 2015. "On incentives, temptation and self-control," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 60-67.
    331. Yang, Yang & He, Weijun & Jiang, Ningye & Xu, Shasha & Ramsey, Thomas Stephen & Yuan, Liang, 2024. "The intertemporal choice study of individual water-saving irrigation construction under three water pricing and subsidy scenarios," Agricultural Water Management, Elsevier, vol. 295(C).
    332. Werthschulte, Madeline, 2020. ""Pay-later" vs. "pay-as-you-go": Experimental evidence on present-biased overconsumption and the importance of timing," ZEW Discussion Papers 20-089, ZEW - Leibniz Centre for European Economic Research.
    333. Lilia Maliar & Serguei Maliar, 2003. "Heterogeneity In The Degree Of Quasi-Geometric Discounting: The Distributional Implications," Working Papers. Serie AD 2003-28, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    334. Christos Kotsogiannis & Robert Schwager, 2022. "Present bias and externalities: Can government intervention raise welfare?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(3), pages 1480-1506, August.
    335. Benhabib, Jess & Bisin, Alberto, 2005. "Modeling internal commitment mechanisms and self-control: A neuroeconomics approach to consumption-saving decisions," Games and Economic Behavior, Elsevier, vol. 52(2), pages 460-492, August.
    336. Shari De Baets & Dilek Önkal & Wasim Ahmed, 2022. "Do Risky Scenarios Affect Forecasts of Savings and Expenses?," Forecasting, MDPI, vol. 4(1), pages 1-28, February.
    337. Shuying Shen & Abdoul G. Sam & Eugene Jones, 2014. "Credit Card Indebtedness and Psychological Well-Being Over Time: Empirical Evidence from a Household Survey," Journal of Consumer Affairs, Wiley Blackwell, vol. 48(3), pages 431-456, October.
    338. Bhatia, Sudeep & Crawford, Megan M & McDonald, Rebecca Louise & Moreno, Miguel A. & Read, Daniel, 2021. "Inconsistent Planning and the Allocation of Tasks Over Time," OSF Preprints b4mg7, Center for Open Science.
    339. Erik Hurst, 2003. "Grasshoppers, Ants, and Pre-Retirement Wealth: A Test of Permanent Income," NBER Working Papers 10098, National Bureau of Economic Research, Inc.
    340. Erixon, Lennart & Johannesson, Louise, 2010. "Is the psychology of high profits favorable to industrial renewal? Experimental evidence for the theory of transformation pressure and Schumpeterian economics," Research Papers in Economics 2010:13, Stockholm University, Department of Economics.
    341. Choi, Yoonseok & Kim, Sunghyun Henry, 2021. "Understanding the effects of government spending in a time-inconsistent model," Economic Modelling, Elsevier, vol. 98(C), pages 266-279.
    342. Hisaki Kono & Tomomi Tanaka, 2019. "Does marriage work as a savings commitment device? Experimental evidence from Vietnam," PLOS ONE, Public Library of Science, vol. 14(6), pages 1-18, June.
    343. Kim, Eungsik & Li, Jiayi, 2025. "Endogenous business cycles in overlapping generations models with time inconsistency," Journal of Economic Theory, Elsevier, vol. 230(C).
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    347. Frank Sloan & Lindsey Eldred, 2015. "Do preferences of drinker-drivers differ?," International Journal of Health Economics and Management, Springer, vol. 15(2), pages 241-268, June.
    348. Allen, Jason & Carmichael, Kyra & Clark, Robert & Li, Shaoteng & Vincent, Nicolas, 2026. "Housing affordability and parental income support: The role of mortgage co-signing," Journal of Financial Economics, Elsevier, vol. 178(C).
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Chapters

  1. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 1-86, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.

    Cited by:

    1. Ing-Haw Cheng & Alice Hsiaw, 2022. "Reporting Sexual Misconduct in the #MeToo Era," American Economic Journal: Microeconomics, American Economic Association, vol. 14(4), pages 761-803, November.
    2. Han, Zhao & Tan, Fei & Wu, Jieran, 2022. "Analytic policy function iteration," Journal of Economic Theory, Elsevier, vol. 200(C).
    3. Malmendier, Ulrike M., 2020. "Exposure to Grocery Prices and Inflation Expectations," CEPR Discussion Papers 14930, Centre for Economic Policy Research.
    4. Cornand, Camille & Hubert, Paul, 2022. "Information frictions across various types of inflation expectations," European Economic Review, Elsevier, vol. 146(C).
    5. Chanelle Duley & Prasanna Gai, 2020. "When the penny doesn't drop - Macroeconomic tail risk and currency crises," National Institute of Economic and Social Research (NIESR) Discussion Papers 520, National Institute of Economic and Social Research.
    6. Heinke, Steve, 2024. "Top–down and bottom–up information acquisition: Application to financial markets," Economics Letters, Elsevier, vol. 237(C).
    7. Ströbel, Johannes & Kuchler, Theresa & Dávila, Eduardo & Bailey, Michael, 2017. "House Price Beliefs And Mortgage Leverage Choice," CEPR Discussion Papers 12476, Centre for Economic Policy Research.
    8. George‐Marios Angeletos & Fabrice Collard & Harris Dellas, 2018. "Quantifying Confidence," Econometrica, Econometric Society, vol. 86(5), pages 1689-1726, September.
    9. Masashige Hamano & Munechika Katayama & So Kubota, 2020. "COVID-19 Misperception and Macroeconomy," Working Papers 2016, Waseda University, Faculty of Political Science and Economics.
    10. Cary D. Frydman & Salvatore Nunnari, 2021. "Coordination with Cognitive Noise," CESifo Working Paper Series 9483, CESifo.
    11. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.
    12. Gobbi, Alessandro & Grazzini, Jakob, 2019. "A basic New Keynesian DSGE model with dispersed information: An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 101-116.
    13. Darmouni, Olivier & Sutherland, Andrew, 2018. "Learning about Competitors: Evidence from SME Lending," MPRA Paper 93668, University Library of Munich, Germany.
    14. Hommes, Cars, 2018. "Behavioral & experimental macroeconomics and policy analysis: a complex systems approach," Working Paper Series 2201, European Central Bank.
    15. Rondina, Giacomo & Walker, Todd B., 2021. "Confounding dynamics," Journal of Economic Theory, Elsevier, vol. 196(C).
    16. Marcus Giamattei, 2022. "Can Cold Turkey Reduce Inflation Inertia? Evidence on Disinflation and Level‐k Thinking from a Laboratory Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(8), pages 2477-2517, December.
    17. Guimaraes, Bernardo & Jardanovski, Gabriel, 2021. "Who matters in dynamic coordination problems?," Textos para discussão 543, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    18. Tarashev, Nikola & Zabai, Anna, 2019. "When pegging is a commitment device: Revisiting conventional wisdom about currency crises," Journal of International Economics, Elsevier, vol. 118(C), pages 233-247.
    19. Giorgio Rampa & Margherita Saraceno, 2018. "Accuracy and Costs of Dispute Resolution with Heterogeneous Consumers. A Conjectural Approach to Mass Litigation," DEM Working Papers Series 155, University of Pavia, Department of Economics and Management.
    20. Kleinert Joern, 2023. "The Instability of the Market for Government Bonds in the EMU," German Economic Review, De Gruyter, vol. 24(2), pages 207-231, May.
    21. Tamás Sebestyén & Dóra Longauer, 2018. "Network structure, equilibrium and dynamics in a monopolistically competitive economy," Netnomics, Springer, vol. 19(3), pages 131-157, December.
    22. Unger, Elizabeth A. & Ulfarsson, Gudmundur F. & Gardarsson, Sigurdur M. & Matthiasson, Thorolfur, 2018. "The effect of wind energy production on cross-border electricity pricing: The case of western Denmark in the Nord Pool market," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 121-130.
    23. Donato Masciandaro, 2018. "Central Banking and Macroeconomic Ideas: Economics, Politics and History," BAFFI CAREFIN Working Papers 1858, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    24. Grundmann, Susanna & Giamattei, Marcus & Graf Lambsdorff, Johann, 2020. "On the downward rigidity of wages: Evidence from an experimental labour market with monetary neutrality," Passauer Diskussionspapiere, Volkswirtschaftliche Reihe V-80-20, University of Passau, Faculty of Business and Economics.
    25. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    26. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    27. Camille Cornand & Frank Heinemann, 2019. "Experiments in macroeconomics: methods and applications," Post-Print halshs-01809937, HAL.
    28. George-Marios Angeletos & Chen Lian, 2017. "Dampening General Equilibrium: From Micro to Macro," NBER Working Papers 23379, National Bureau of Economic Research, Inc.
    29. Nagel, Rosemarie & Bühren, Christoph & Frank, Björn, 2017. "Inspired and inspiring: Hervé Moulin and the discovery of the beauty contest game," Mathematical Social Sciences, Elsevier, vol. 90(C), pages 191-207.
    30. Pellet, Thomas & Tahbaz-Salehi, Alireza, 2023. "Rigid production networks," Journal of Monetary Economics, Elsevier, vol. 137(C), pages 86-102.
    31. Yu-Ting Chiang, 2022. "Attention and a Paradox of Uncertainty," Working Papers 2022-004, Federal Reserve Bank of St. Louis, revised 08 Oct 2024.
    32. Jianjun Miao & Dongling Su, 2019. "Asset Market Equilibrium under Rational Inattention," Boston University - Department of Economics - Working Papers Series WP2019-09, Boston University - Department of Economics.
    33. Pooya Molavi, 2022. "Simple Models and Biased Forecasts," Papers 2202.06921, arXiv.org, revised Oct 2024.
    34. Camille Cornand & Paul Hubert, 2022. "Information frictions in inflation expectations among five types of economic agents," Post-Print hal-03468918, HAL.
    35. Bouvard, Matthieu & de Motta, Adolfo & Titman, Sheridan, 2024. "Should Cities Diversify? City Risk and Industrial Policy," TSE Working Papers 24-1538, Toulouse School of Economics (TSE).
    36. Jonathan J Adams & Eugenio Rojas, 2023. "Household Consumption and Dispersed Information," Working Papers 001009, University of Florida, Department of Economics.
    37. Besancenot, Damien & Vranceanu, Radu, 2018. "Crowdfunding with overenthusiastic investors : a global game model," ESSEC Working Papers WP1802, ESSEC Research Center, ESSEC Business School.
    38. Heinemann, Frank, 2024. "An experimental test of the global-game selection in coordination games with asymmetric players," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 632-656.
    39. Mauersberger, Felix, 2021. "Monetary policy rules in a non-rational world: A macroeconomic experiment," Journal of Economic Theory, Elsevier, vol. 197(C).
    40. Szkup, Michal & Trevino, Isabel, 2020. "Sentiments, strategic uncertainty, and information structures in coordination games," Games and Economic Behavior, Elsevier, vol. 124(C), pages 534-553.
    41. Szkup, Michal, 2020. "Multiplier effect and comparative statics in global games of regime change," Theoretical Economics, Econometric Society, vol. 15(2), May.
    42. Mackowiak, Bartosz & Matějka, Filip & Wiederholt, Mirko, 2020. "Rational Inattention: A Review," CEPR Discussion Papers 15408, Centre for Economic Policy Research.
    43. Łukasz Balbus & Paweł Dziewulski & Kevin Reffett & Łukasz Woźny, 2020. "Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk," KAE Working Papers 2020-052, Warsaw School of Economics, Collegium of Economic Analysis.
    44. Régis Barnichon & Geert Mesters, 2019. "Identifying modern macro equations with old shocks," Economics Working Papers 1659, Department of Economics and Business, Universitat Pompeu Fabra.
    45. Artūras Juodis & Simas Kučinskas, 2023. "Quantifying noise in survey expectations," Quantitative Economics, Econometric Society, vol. 14(2), pages 609-650, May.
    46. Francesco D'Acunto & Ulrike M. Malmendier & Juan Ospina & Michael Weber & Michael Weber, 2019. "Exposure to Daily Price Changes and Inflation Expectations," CESifo Working Paper Series 7798, CESifo.
    47. Eduardo Dávila & Ansgar Walther, 2017. "Does Size Matter? Bailouts with Large and Small Banks," NBER Working Papers 24132, National Bureau of Economic Research, Inc.
    48. Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).
    49. Paula Patzelt & Ricardo Reis, 2024. "Estimating the rise in expected inflation from higher energy prices," Discussion Papers 2411, Centre for Macroeconomics (CFM).
    50. Sebestyén, Tamás & Longauer, Dóra, 2019. "Hálózati struktúra és nem teljes információ egy monopolisztikus versenyre épülő modellben [Network structure and incomplete information in a model of monopolistic competition]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1257-1283.
    51. Guimaraes, Bernardo & Machado, Caio & Pereira, Ana Elisa, 2017. "Dynamic coordination with timing frictions: theory and applications," LSE Research Online Documents on Economics 86149, London School of Economics and Political Science, LSE Library.
    52. Awaya, Yu & Krishna, Vijay, 2024. "Panics and prices," Journal of Economic Theory, Elsevier, vol. 217(C).
    53. Flynn, Joel P. & Sastry, Karthik A., 2023. "Strategic mistakes," Journal of Economic Theory, Elsevier, vol. 212(C).
    54. Donato Masciandaro, 2014. "Macroeconomic Ideas, Business Cycles and Economic Policies: One Size Doesn’t Fit All - A Primer," BAFFI CAREFIN Working Papers 14161, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    55. Chanelle Duley & Prasanna Gai, 2023. "Macroeconomic tail risk, currency crises and the inter‐war gold standard," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1551-1582, November.
    56. Born, Benjamin & Enders, Zeno & Müller, Gernot J., 2023. "On FIRE, news, and expectations," Working Papers 42, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    57. Paul Levine & Joseph Pearlman & Alessio Volpicella & Bo Yang, 2022. "The Use and Mis-Use of SVARs for Validating DSGE Models," School of Economics Discussion Papers 0522, School of Economics, University of Surrey.
    58. Alan Kirman & François Laisney & Paul Pezanis-Christou, 2023. "Relaxing the symmetry assumption in participation games: a specification test for cluster-heterogeneity," Experimental Economics, Springer;Economic Science Association, vol. 26(4), pages 850-878, September.
    59. Giacomo Rondina & Todd Walker, 2023. "Equivalence Results With Endogenous Signal Extraction," CAEPR Working Papers 2023-007 Classification-, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    60. Kohlhas, Alexandre N., 2020. "An informational rationale for action over disclosure," Journal of Economic Theory, Elsevier, vol. 187(C).
    61. Jonathan J Adams, 2020. "Moderating Macroeconomic Bubbles Under Dispersed Information," Working Papers 001005, University of Florida, Department of Economics.
    62. Kirman, Alan P. & Laisney, François & Pezanis-Christou, Paul, 2018. "Exploration vs exploitation, impulse balance equilibrium, and a specification test for the El Farol bar problem," ZEW Discussion Papers 18-038, ZEW - Leibniz Centre for European Economic Research.
    63. Guangyu PEI, 2019. "Uncertainty, Pessimism and Economic Fluctuations," 2019 Meeting Papers 1494, Society for Economic Dynamics.
    64. Reis, Ricardo, 2021. "Comment," LSE Research Online Documents on Economics 110532, London School of Economics and Political Science, LSE Library.
    65. Takashi Ui, 2023. "Strategic Ambiguity in Global Games," Papers 2303.12263, arXiv.org, revised Nov 2024.
    66. Wang, Tianxi, 2021. "Government Bonds, Bank Liquidity and Non-Neutrality of Monetary Policy in the Steady," Economics Discussion Papers 29502, University of Essex, Department of Economics.
    67. Paul Levine & Neil Rickman, 2021. "Optimal Lockdown in an Epidemiological-Macroeconomic Model," School of Economics Discussion Papers 0421, School of Economics, University of Surrey.
    68. Pedro Bordalo & Nicola Gennaioli & Rafael La Porta & Matthew OBrien & Andrei Shleifer, 2023. "Long-Term Expectations and Aggregate Fluctuations," NBER Chapters, in: NBER Macroeconomics Annual 2023, volume 38, pages 311-347, National Bureau of Economic Research, Inc.
    69. Li, Fei & Song, Yangbo & Zhao, Mofei, 2023. "Global manipulation by local obfuscation," Journal of Economic Theory, Elsevier, vol. 207(C).
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