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Managing beliefs about monetary policy under discretion
Mertens, Elmar - 2009
is larger, even when inflation is partly backward-looking. …
Persistent link: https://www.econbiz.de/10003882302
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Managing Beliefs about Monetary Policy under Discretion
Mertens, Elmar - 2008
is larger, even when inflation is partly backward-looking. …
Persistent link: https://www.econbiz.de/10011430072
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Information Flows and Disagreement
Badarinza, Cristian - 2012
The aim of this study is to assess the extent to which the degree of heterogeneity of inflation expectations is driven … is higher at times of high inflation and decreasing thereafter, this mechanism can contribute to upward biases in … inflation expectations over long periods of time …
Persistent link: https://www.econbiz.de/10013100575
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Inflation and output volatility under asymmetric incomplete information
Carboni, Giacomo; Ellison, Martin - 2009
. Our analysis improves upon existing work by endogenising the volatility of both output and inflation. Improved …
Persistent link: https://www.econbiz.de/10003963766
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The multi-faceted concept of transparency
Forssbæck, Jens; Oxelheim, Lars - 2014
Transparency has become a catchword and in the economic-political debate is often seen as a universal remedy for all sorts of problems. In this paper, we analyze and discuss the meaning and use of the concept of transparency in economic research. We look for common denominators across different...
Persistent link: https://www.econbiz.de/10010393290
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Inflation and output volatility under asymmetric incomplete information
Carboni, Giacomo; Ellison, Martin - 2009
. Our analysis improves upon existing work by endogenising the volatility of both output and inflation. Improved …
Persistent link: https://www.econbiz.de/10011605138
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Optimal monetary policy with imperfect common knowledge
Adam, Klaus - 2003
We study optimal nominal demand policy in an economy with monopolistic competition and flexible prices when firms have imperfect common knowledge about the shocks hitting the economy. Parametrizing firms' information imperfections by a (Shannon) capacity parameter that constrains the amount of...
Persistent link: https://www.econbiz.de/10009765354
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An Explanation for the Price Puzzle : Asymmetric Information and Expectation Dynamics
Tas, Bedri Kamil Onur - 2011
the CB and a representative private-sector agent under asymmetric information is investigated. Inflation positively reacts … information about higher future inflation and output by the public. The empirical section of the paper validates this theoretical … frictions induce short-run undesired effects like increase in expected inflation and actual inflation as a response to …
Persistent link: https://www.econbiz.de/10014177978
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Public and Private Information in Monetary Policy Models
Amato, Jeffery D.; Shin, Hyun Song - 2013
This paper examines the impact of public information in an economy where agents also have diverse private information. Since disclosures by central banks are an important source of public information, we are able to assess how the words of central bankers shape expectations, in addition to their...
Persistent link: https://www.econbiz.de/10014062631
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Sectoral inflation persistence, market concentration and imperfect common knowledge
Kato, Ryo; Okuda, Tatsushi; Tsuruga, Takayuki - 2020
Previous studies have stressed that in ation dynamics exhibit a substantial disper- sion across sectors. Using US producer price data, we present evidence that sectoral in ation persistence is negatively correlated with market concentration, which is diffi- cult to reconcile with the prediction...
Persistent link: https://www.econbiz.de/10012195719