Carte Optimal Economic Transparency Walsh

Optimal Economic Transparency

Limbă: engleză
Legare: Carte broșată
Editura: Bibliogov
Disponibilitate: În depozitul extern
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In this paper, I explore the optimal extent to which the central bank should disseminate information...

Informații despre carte

Limbă
engleză
Legare
Carte - Carte broșată
Publicat
2012
Pagini
36
EAN
9781249556800
ISBN
9781249556800
Enbook ID
08139818
Editura
Greutate
82
Dimensiuni
189 x 246 x 2

Descriere completă

In this paper, I explore the optimal extent to which the central bank should disseminate information among private agents. Individual firms are assumed to have diverse private information, and the central bank provides public information either implicitly, by setting its policy instrument, or explicitly, by making announcements about its short-run targets. The optimal degree of economic transparency is affected differently by cost and demand shocks. More-accurate central bank forecasts of demand shocks reduce optimal transparency, while more-accurate forecasts of cost shocks increase optimal transparency. Increased persistence in demand (cost) disturbances increases (reduces) optimal transparency.

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