Consumption dynamics under information processing constraints
نویسندگان
چکیده
منابع مشابه
Consumption Dynamics , Asset Pricing , and Welfare E ff ects under Information Processing Constraints ∗
This paper studies consumption and savings dynamics, asset returns, and welfare losses in three macroeconomic models with information processing constraints which is also called “rational inattention” (henceforth, RI) in Sims (2003). The first model is a standard Linear Quadratic Gaussian (henceforth, LQG) permanent income (henceforth, PIH) model. We show that incorporating RI can better explai...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2008
ISSN: 1094-2025
DOI: 10.1016/j.red.2007.07.003