Activist Monetary Policy under Rational Expectations
论证即使人们理性预期，积极货币政策也可能有意义。通过一个包含价格调整成本、总需求参数不确定性和信息收集成本的模型，说明积极货币政策是否有用取决于信息成本和参数不确定性的大小。
The purpose of this paper is to argue that the pursuit of an activist monetary policy may make economic sense even when people's expectations are formed rationally. The paper presents a simple model in which (1) prices are costly to adjust, (2) there is uncertainty concerning the parameters affecting aggregate demand, and (3) there are positive costs of gathering and processing information. By reference to this model it can be shown that an activist monetary policy may or may not be useful in offsetting aggregate disturbances, depending upon the extent of information costs and of parameter uncertainty.