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We argue here that the three factors we identify as constituting the foundation for being a leader and the effective exercise of leadership can also be seen as “A ‘Value-Free’ Approach to Values” that proves to be very effective in allowing students to acquire the foundations not only...
Persistent link: https://www.econbiz.de/10008662118
In 2013, Stiftung Warentest tested hazelnut chocolate for their leading magazine, called Test. Stiftung Warentest is one of the most important consumer organizations in Germany. Ritter Sport is a high-quality producer of chocolate in Germany. Their hazelnut chocolate did not pass the test. It...
Persistent link: https://www.econbiz.de/10010528223
We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual …
Persistent link: https://www.econbiz.de/10013150973
A numerical measure of central bank credibility, which can be incorporated into a New Keynesian model under bounded rationality, is proposed and analyzed. This measure arises mainly due to the existence of the drifts in private long-term predictions, which are different from those of the central...
Persistent link: https://www.econbiz.de/10012906326
This paper discusses four potential sources of lag dynamics in inflation: non-rational behavior, staggered contracting, frictions on price adjustment, and shifts in the long-run inflation anchor of agent expectations (the perceived inflation target). Expressions for inflation dynamics from...
Persistent link: https://www.econbiz.de/10014074476
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How much information should a central bank (CB) have about (i) policy objectives and (ii) operational shocks to the … inflation-biased CB's private information on both these dimensions. We find that greater CB competence—more private information … information about operational shocks, the public infers that monetary policy depends more on the CB's information about objectives …
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