IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-05145075.html
   My bibliography  Save this paper

Business cycle fluctuations and monetary policy under heterogeneous information

Author

Listed:
  • Romain Baeriswyl

    (Banque Nationale Suisse)

  • Pierrick Clerc

    (HEC Liège, Management School of the University of Liège)

  • Camille Cornand

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne - EM - EMLyon Business School - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique)

Abstract

Modelling business cycle fluctuations and the non-neutrality of money is an ongoing challenge for macroeconomists. While the imperfect-information hypothesis developed by Phelps and Lucas in the 1970s had been abandoned in favour of the sticky-price hypothesis, a recent trend in the literature has put this hypothesis back on the agenda to explain business fluctuations and monetary non-neutrality. The success of this revival lies in the introduction of strategic uncertainty into a framework of heterogeneous information. The current paper presents this macroeconomic framework and provides a brief overview of recent advances in the literature.

Suggested Citation

  • Romain Baeriswyl & Pierrick Clerc & Camille Cornand, 2025. "Business cycle fluctuations and monetary policy under heterogeneous information," Working Papers hal-05145075, HAL.
    • Handle: RePEc:hal:wpaper:hal-05145075
    Note: View the original document on HAL open archive server: https://hal.science/hal-05145075v1
    as

    Download full text from publisher

    File URL: https://hal.science/hal-05145075v1/document
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-05145075. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.