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It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …
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signaling incentives under opacity. Our model may also explain the recent trend towards more transparency in monetary policy. …
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environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …
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' unease when disseminating news to the markets and argues against the recent trend of demanding full transparency both for …
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