We study the effect of releasing public information about productivity or monetary shocks when agents learn from nominal prices. While public releases have the benefit of providing new information, they can have the cost of reducing the informational efficiency of the price system. We show that,...

We study the effect of releasing public information about productivity or monetary shocks when agents learn from nominal prices. While public releases have the benefit of providing new information, they can have the cost of reducing the informational efficiency of the price system. We show that,...

The three essays of this dissertation contribute to the measurement of European economic integration and investigate the welfare effects of the European countries. The first study presents a newly developed index – the EU Index – which measures the extent of economic integration into the...