The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real …-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it … written in this decade. We survey this evergrowing literature. The evidence suggests that communication can be an important …

Precedents can facilitate successful coordination within groups by reducing strategic uncertainty, but they may lead to … coordination failure when two groups with diverging precedents have to interact. This paper describes an experiment to explore how … such coordination failure can be mitigated and whether subjects are aware of it. In an initial phase, groups were able to …

Tuning one's shower in some hotels may turn into a challenging coordination game with imperfect information. The …

benefit from coordination (or centralization) of search activities. We test the conjecture that agents gain from coordination … with a between-subject design in two treatments. In the experiments we find no gains from coordination. Instead, we find …

coordination game with multiple Pareto-ranked Nash equilibria. Because the more efficient equilibria involve a degree of strategic … results suggest that leadership does indeed increase coordination and efficiency. In particular, with leadership we typically …

We analyze the performance of various communication protocols in a generalization of the Crawford-Sobel (1982) model of … possible that informative communication with one or both receivers is impossible in private, but possible in public. When the … by public communication with the flexibility provided by private communication and transmit more information to the …

We study communication in a two-player coordination game with Pareto-ranked equilibria. Prior research demonstrates … that efficient coordination is difficult without communication but obtains regularly with (mandatory) costless pre … communication. Consistent with the introspective character of GW-FI, the fraction of players who achieve efficient coordination by …