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their decisions to the public. This paper studies whether the communication of central banks can be used to explain upcoming … central bank communication during times of financial crisis. This is done by constructing an indicator to measure the … bank level during the financial crisis despite the rapid growth of economic uncertainty, and that communication can be a …
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It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the 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...
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commitment mechanism is a redundant policy instrument. When private information is present, central bank communication can … instead have social value. Forward guidance emerges as a natural communication strategy when the private information in the …
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commitment mechanism is a redundant policy instrument. When private information is present, central bank communication can … instead have social value. Forward guidance emerges as a natural communication strategy when the private information in the …
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