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Monetary policy with imperfect signals: The target problem in a new monetarist approach

Draack, Hannes - 2018

information to the model of [Berentsen and Waller, 2011], a divide between an interest rate policy and a money stock policy …

Persistent link: https://www.econbiz.de/10011969207

Monetary policy with imperfect signals : the target problem in a new monetarist approach

Draack, Hannes - 2018

information to the model of [Berentsen and Waller, 2011], a divide between an interest rate policy and a money stock policy …

Persistent link: https://www.econbiz.de/10011900176

A search theory of money and commerce with Neoclassical production

Faig, Miquel - Department of Economics and Business, Universitat … - 2001

This paper advances a highly tractable model with search theoretic foundations for money and neoclassical growth. In …

Persistent link: https://www.econbiz.de/10005708022

A Search Theory of Money and Commerce with Neoclassical Production

Faig, Miquel - University of Toronto, Department of Economics - 2001

This paper advances a highly tractable model with search theoretic foundations for money and neoclassical growth. In … bilateral trading, in ation depresses capital and output and has a negligible effecton welfare. (Keywords: search, money …, commerce, in ation, neoclassical production, capital accumulation, optimum quantity of money.) …

Persistent link: https://www.econbiz.de/10005771671

Limited higher order beliefs and the welfare effects of public information

Cornand, Camille; Heinemann, Frank - 2013

In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...

Persistent link: https://www.econbiz.de/10010331131

A theory of multidimensional information disclosure

Tamura, Wataru - 2012

We study disclosure of information about the multidimensional state of the world when uninformed receivers' actions affect the sender's utility. Given a disclosure rule, the receivers form an expectation about the state following each message. Under the assumption that the sender's expected...

Persistent link: https://www.econbiz.de/10009419552

Endogenous Information and Central Bank Transparency

Tamura, Wataru - 2015

This paper studies monetary policy under discretion when the central bank ex ante determines information to be acquired and made public. In a general setting, wherein a monetary instrument signals the central bank's private information, I show that an optimal information policy comprises the...

Persistent link: https://www.econbiz.de/10013026571

Persuasion by dimension reduction

Malamud, Semyon; Schrimpf, Andreas - 2021 - This version: October 17, 2021

How should an agent (the sender) observing multi-dimensional data (the state vector) persuade another agent to take the desired action? We show that it is always optimal for the sender to perform a (non-linear) dimension reduction by projecting the state vector onto a lower-dimensional object...

Persistent link: https://www.econbiz.de/10012799529

Information Design, Signaling, and Central Bank Transparency

Tamura, Wataru - 2018

This study examines monetary policy and central bank communication when a monetary instrument signals the central bank's private information. A novel feature is that the central bank ex ante determines how much information it acquires and how much of this information it releases to the public....

Persistent link: https://www.econbiz.de/10012930476

Optimal transport of information

Malamud, Semyon; Cieślak, Anna; Schrimpf, Andreas - 2021 - This version: March 3, 2021

We study the general problem of Bayesian persuasion (optimal information design) with continuous actions and continuous state space in arbitrary dimensions. First, we show that with a finite signal space, the optimal information design is always given by a partition. Second, we take the limit of...

Persistent link: https://www.econbiz.de/10012487719