Arbeitspapier
Money and prices in models of bounded rationality
In this paper the authors explore the ability of simple monetary models with bounded rationality to account for the joint distribution of money and prices. They impose restrictions on the size of the mistakes agents can make in equilibrium and argue that countries with high inflation are likely to satisfy these restrictions. Their computations show that the model with bounded rationality does neither improve nor deteriorate the ability of the model to match the data.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2003-15
- Classification
-
Wirtschaft
- Subject
-
Monetary policy
Equilibrium (Economics)
Macroeconomics
- Event
-
Geistige Schöpfung
- (who)
-
Marcet, Albert
Nicolini, Juan Pablo
- Event
-
Veröffentlichung
- (who)
-
Federal Reserve Bank of Atlanta
- (where)
-
Atlanta, GA
- (when)
-
2003
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Marcet, Albert
- Nicolini, Juan Pablo
- Federal Reserve Bank of Atlanta
Time of origin
- 2003
Other Objects (12)
Money and prices in models of bounded rationality in high inflation economies
Money and prices in models of bounded rationality in high inflation economies
Property taxation, bounded rationality and housing prices
Property Taxation, Bounded Rationality and House Prices
Bounded rationality and contracts
Topics in bounded rationality
Bounded rationality, heterogeneity and learning
Bounded Rationality, Beliefs, and Behavior
From full to bounded rationality
Random categorization and bounded rationality
An approach to bounded rationality
Bounded rationality and limited datasets
Money and prices in models of bounded rationality in high inflation economies
Money and prices in models of bounded rationality in high inflation economies
Property taxation, bounded rationality and housing prices
Property Taxation, Bounded Rationality and House Prices
Bounded rationality and contracts
Topics in bounded rationality
Bounded rationality, heterogeneity and learning
Bounded Rationality, Beliefs, and Behavior
From full to bounded rationality
Random categorization and bounded rationality
An approach to bounded rationality
Bounded rationality and limited datasets
Money and prices in models of bounded rationality in high inflation economies
Money and prices in models of bounded rationality in high inflation economies
Property taxation, bounded rationality and housing prices
Property Taxation, Bounded Rationality and House Prices
Bounded rationality and contracts
Topics in bounded rationality
Bounded rationality, heterogeneity and learning
Bounded Rationality, Beliefs, and Behavior
From full to bounded rationality
Random categorization and bounded rationality
An approach to bounded rationality