This study examines monetary policy and central bank communication when a monetary instrument signals the central bank …

finite number of ``clusters” and to communicate to the public to which cluster the state belongs. Optimal communication is …

model of communication in games and investigate the importance of when communication takes place. Sending a message before … are believed whenever possible. Applying our results to Aumann's Stag Hunt game we find that communication is useless if …

The paper analyzes the role of the structure of communication - i.e. who is talking with whom - on the choice of … messages, on their credibility and on actual play. We run an experiment in a three-player coordination game with Pareto ranked … analysis of credibility, the subjects should communicate and play the Pareto optimal equilibrium only when communication is …

This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …

central banks. Overall, our results suggest that central bank communication contains systematic biases that could lead to …

. This article surveys a rapidly-growing literature on central bank communication with the public. We first discuss why and … how such communication is more challenging than communicating with expert audiences. Then we survey the empirical evidence …