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Central bank communication with the general public
Dräger, Lena - 2023
This paper surveys the literature on the role and effects of central bank communication with the general public … "communication revolution" in central bank communication. The challenges for central bank communication with the public are outlined … evaluate the effects of direct communication, distinguishing between challenges to getting the attention of the public and …
Persistent link: https://www.econbiz.de/10014384011
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Interpreting how others interpret it : social value of public information
Gizatulina, Alia - 2012 - This version: March 2012
and technical. -- central bank communication ; transparency ; common p-belief ; coordination game ; higher …-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret … communication noted by Morris and Shin (2004) can be amplified if agents have doubts whether others take the public signal too …
Persistent link: https://www.econbiz.de/10009522297
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Forward guidance contracts
Gersbach, Hans; Hahn, Volker; Liu, Yulin - 2015 - This version: May 2015
We examine "Forward Guidance Contracts", which make central bankers' utility contingent on the precision of interest-rate forecasts for some time. Such Forward Guidance Contracts are a exible commitment device and can improve economic performance when the economy is stuck in a liquidity trap....
Persistent link: https://www.econbiz.de/10010528970
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Conversations
Köster, Mats; Voss, Paul - 2023
We develop a theory of conversations. Two agents with different interests take turns choosing the topic of the conversation. Talking about a single topic allows them to delve deeper, making the conversation more informative (or enjoyable). To capture this dynamic, we assume that the marginal...
Persistent link: https://www.econbiz.de/10013543005
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Transparency is overrated : communicating in a coordination game with private information
Cabrales, Antonio; Drouvelis, Michalis; Gurguc, Zeynep; … - 2017
higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011761639
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Can there be a market for cheap-talk information? : an experimental investigation
Cabrales, Antonio; Feri, Francesco; Gottardi, Piero; … - 2018
This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given the previous experimental results on cheap-talk games....
Persistent link: https://www.econbiz.de/10011822038
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Individual and collective information acquisition : an experimental study
Reshidi, Pëllumb; Lizzeri, Alessandro; Yariv, Leeat; … - 2021
Many committees - juries, political task forces, etc. - spend time gathering costly information before reaching a decision. We report results from lab experiments focused on such information-collection processes. We consider decisions governed by individuals and groups and compare how voting...
Persistent link: https://www.econbiz.de/10012697146
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Endogenous public information and welfare
Vives, Xavier - 2011
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...
Persistent link: https://www.econbiz.de/10009153832
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Statements of ECB officials and their effect on the level and volatility of the Euro-Dollar exchange rate
Jansen, David-Jan; Haan, Jakob de - 2003
This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...
Persistent link: https://www.econbiz.de/10011507830
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Monetary policy transparency
Geraats, Petra M. - 2014
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...
Persistent link: https://www.econbiz.de/10010237274