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precision of public information or withholding it. The latter seems to be unrealistic. Thus, the issue is not whether central … bank should disclose or not its information, but how the central bank should disclose it. We consider a static coordination … game in which the private sector receives n semi-public information plus their specific information, and we analyse the …
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We quantify the informational content of statements issued by the interest-rate setting committee of the Central Bank of Brazil (COPOM), building on the methodology developed by Lucca and Trebbi (2011). Using Google search queries, we measure the extent to which each COPOM statement is perceived...
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