Kai, Guo; Conlon, John R. - Volkswirtschaftliche Fakultät, … - 2007
improves risk sharing. “Information leakage” plays an important role in our analysis. Because of this leakage, central bank … announcements can initiate further information revelation between traders. That is, the leakage effect can reveal information that … the central bank, itself, does not have. However, this information leakage may not be welfare improving. Also, this …