A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the context of an economy where economic agents have an...

This paper considers the determination of aggregate price level under dispersed information. Central Bank sets policy in response to its noisy measure of the price level, and each agent makes its decisions by observing a subset of data. Information revealed to the agents and Bank is determined...

This Paper examines how aversion to risk and aversion to intertemporal substitution determines the strength of the precautionary saving motive in a two-period model with Kreps-Porteus preferences. For small risks, we derive a measure of the strength of the precautionary saving motive, which...

As large organisations grow and evolve, they face the challenge of accommodating change in a manner that contains costs while strengthening the firm’s competitive position in the marketplace. Invariably, not only initial capital and long‐term operating costs, but the effect of the real...

Reports an interview study into information seeking and use by journalists at a national British newspaper. Describes work activity in the context of a series of behaviour shaping constraints and cognitive and external resources. Describes the journalist's information seeking as motivated by...