Rational expectations and the role of monetary policy: A generalization

  title={Rational expectations and the role of monetary policy: A generalization},
  author={A. Cukierman},
  journal={Journal of Monetary Economics},
  • A. Cukierman
  • Published 1978
  • Economics
  • Journal of Monetary Economics
Abstract This paper investigates the effects of introducing the following two alterations into a multimarket, partial information, rational expectations model; (1) individuals in any market may sample currently more prices than just the current price on their own market; (2) they choose the amount of their current information so as to minimize the sum of the costs of getting information and of being off their full information demand and supply curves. Under those circumstances any change in the… Expand
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