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This article analyses the effects of economic transparency on the optimal monetary policy in an economy affected by demand shocks. In an environment of imperfect common knowledge, demand shocks create a trade-off between stabilising the price level and stabilising the output gap. The monetary...
Persistent link: https://www.econbiz.de/10010899271
Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four contributions to the literature. Firstly, by applying the 2SLS...
Persistent link: https://www.econbiz.de/10008794278
1. Several market failures would justify some forms of price control and entry regulation in the taxicab industry. Unfortunately, history shows that very often the taxi regulators get captured by taxi operators' lobbies and fail to adapt their regulation to changing market conditions. Hence,...
Persistent link: https://www.econbiz.de/10008805912
theoretical breakthrough may open up vistas capacity in the fields of information systems, knowledge and decision. …
Persistent link: https://www.econbiz.de/10010820571
, and expected welfare) when regulators can induce improved information provision in one of two ways. Regulations can be … designed that either provide investors with more accurate information by improving the quality of prior information, or that …, improving the quality of the public signal can be interpreted as a way of providing information about the anticipations and …
Persistent link: https://www.econbiz.de/10010821045
We argue, in the spirit of some of Jean-Yves Jaffray's work, that explicitly incorporating the information, however … and analyze how the decision maker takes into account new information, even when this information is not an event and … finally that it is crucial when attempting to identify and measure the decision maker's attitude toward imprecise information. …
Persistent link: https://www.econbiz.de/10010738628
Si on pense qu'une partie hautement mathématisée de la littérature économique, publiée dans les grandes revues, et abondamment citée, est néanmoins fausse, on peut se détourner en considérant que cette partie n'est pas convaincante et ne mérite pas d'être traitée dans les manuels ni...
Persistent link: https://www.econbiz.de/10010738960
such 'black box' environments, where players' only source of information is their own history of actions taken and payoff s … no information about the game; moreover they are still present even when players have full information. Convergence to …
Persistent link: https://www.econbiz.de/10010738969
stored - an approach more deserving of the label Information Management. Recently there has been recognition that some …
Persistent link: https://www.econbiz.de/10010898455
social et politique, et de soutenir son propre développement. Cela dépend, notamment, de la production d'une information …
Persistent link: https://www.econbiz.de/10010898521