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useful information and the risk of overwhelming it with excessive communication. An information authority chooses how many … coordination, the number of signals they acquire may decrease in the number released. The optimal quantity of communication is …
Persistent link: https://www.econbiz.de/10013103059
signals in the way that they suspect others are doing it. Consequently, the negative impact of public communication noted by … public signal at all, which suggests that there is a scope to "obliterate" public communication in a specific way, by making …, desirability for such obliteration and non-commonality of signals' understanding. -- transparency ; central bank communication …
Persistent link: https://www.econbiz.de/10009742337
We implement a repeated version of the Barro-Gordon monetary policy game in the laboratory and ask whether reputation serves as a substitute for commitment, enabling the central bank to achieve the efficient Ramsey equilibrium and avoid the inefficient, time-inconsistent one-shot Nash...
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This study examines monetary policy and central bank communication when a monetary instrument signals the central bank …
Persistent link: https://www.econbiz.de/10012930476
finite number of ``clusters” and to communicate to the public to which cluster the state belongs. Optimal communication is …
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