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When and How Much to Talk: Credibility and Flexibility in Monetary Policy With Private Information Author info | Abstract | Publisher info | Download info | Related research | Statistics Michelle R. Garfinkel (UCLA)
Seonghwan Oh (Federal Reserve Bank of St. Louis)
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Paper provided by UCLA Department of Economics in its series UCLA Economics Working Papers with number
593.
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Date of creation: 01 Jun 1990Date of revision:
Handle: RePEc:cla:uclawp:593Contact details of provider: Web page: http://www.econ.ucla.edu/
For technical questions regarding this item, or to correct its listing, contact: (Tim Kwok).
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Barro, Robert J. & Gordon, David B., 1983.
"Rules, discretion and reputation in a model of monetary policy ,"
Journal of Monetary Economics ,
Elsevier, vol. 12(1), pages 101-121.
[Downloadable!] (restricted)
Other versions: Rogoff, Kenneth, 1985.
"The Optimal Degree of Commitment to an Intermediate Monetary Target ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 100(4), pages 1169-89, November.
[Downloadable!] (restricted)
Michelle R. Garfinkel & Seonghwan Oh, 1990.
"Strategic discipline in monetary policy with private information: optimal targeting periods ,"
Working Papers
1990-001, Federal Reserve Bank of St. Louis.
[Downloadable!]
Other versions: Stein, Jeremy C, 1989.
"Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements ,"
American Economic Review ,
American Economic Association, vol. 79(1), pages 32-42, March.
[Downloadable!] (restricted)
Canzoneri, Matthew B, 1985.
"Monetary Policy Games and the Role of Private Information ,"
American Economic Review ,
American Economic Association, vol. 75(5), pages 1056-70, December.
[Downloadable!] (restricted)
Other versions: Goodfriend, Marvin, 1986.
"Monetary mystique: Secrecy and central banking ,"
Journal of Monetary Economics ,
Elsevier, vol. 17(1), pages 63-92, January.
[Downloadable!] (restricted)
Other versions: Cukierman, Alex & Meltzer, Allan H, 1986.
"A Theory of Ambiguity, Credibility, and Inflation under Discretion and Asymmetric Information ,"
Econometrica ,
Econometric Society, vol. 54(5), pages 1099-1128, September.
[Downloadable!] (restricted)
Alesina, Alberto & Tabellini, Guido, 1988.
"Credibility and politics ,"
European Economic Review ,
Elsevier, vol. 32(2-3), pages 542-550, March.
[Downloadable!] (restricted)
Robert P. Flood & Peter Isard, 1988.
"Monetary Policy Strategies ,"
NBER Working Papers
2770, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Kydland, Finn E & Prescott, Edward C, 1977.
"Rules Rather Than Discretion: The Inconsistency of Optimal Plans ,"
Journal of Political Economy ,
University of Chicago Press, vol. 85(3), pages 473-91, June.
[Downloadable!] (restricted)
Crawford, Vincent P & Sobel, Joel, 1982.
"Strategic Information Transmission ,"
Econometrica ,
Econometric Society, vol. 50(6), pages 1431-51, November.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob De Haan & David-Jan Jansen, 2008.
"Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence ,"
NBER Working Papers
13932, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob De Haan & David-Jan Jansen, 2008.
"Central Bank communication and monetary policy - a survey of theory and evidence ,"
Working Paper Series
898, European Central Bank.
[Downloadable!] Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob De Haan & David-Jan Jansen, 2008.
"Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence ,"
Working Papers
1038, Princeton University, Department of Economics, Center for Economic Policy Studies..
[Downloadable!] Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob de Haan & David-Jan Jansen, 2008.
"Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence ,"
DNB Working Papers
170, Netherlands Central Bank, Research Department.
[Downloadable!] Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob De Haan & David-Jan Jansen, 2008.
"Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence ,"
Journal of Economic Literature ,
American Economic Association, vol. 46(4), pages 910-45, December.
Andrew G Haldane & Vicky Read, .
"Monetary policy surprises and the yield curve ,"
Bank of England working papers
106, Bank of England.
[Downloadable!]
repec:bep:mactop:v:5:y:2005:i:1:p:1277-1277 is not listed on IDEAS
Other versions: Michael Lamla & Sarah M. Rupprecht, 2006.
"The Impact of ECB Communication on Financial Market Expectations ,"
KOF Working papers
06-135, KOF Swiss Economic Institute, ETH Zurich.
[Downloadable!]
Jon Faust & Lars E.O. Svensson, 1999.
"The equilibrium degree of transparency and control in monetary policy ,"
International Finance Discussion Papers
651, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
Other versions:
Jon Faust & Lars E.O. Svensson, 1999.
"The Equilibrium Degree of Transparency and Control in Monetary Policy ,"
NBER Working Papers
7152, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Faust, Jon & Svensson, Lars E O, 1999.
"The Equilibrium Degree of Transparency and Control in Monetary Policy ,"
CEPR Discussion Papers
2195, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Faust, J. & Svensson, L.E.O., 1999.
"The Equilibrium Degree of Transparency and Control in Monetary Policy ,"
Papers
669, Stockholm - International Economic Studies.
Svensson, Lars & Faust, Jon, 1999.
"The Equilibrium Degree of Transparency and Control in Monetary Policy ,"
Seminar Papers
669, Stockholm University, Institute for International Economic Studies.
[Downloadable!] Faust, Jon & Svensson, Lars E O, 2002.
"The Equilibrium Degree of Transparency and Control in Monetary Policy ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 34(2), pages 520-39, May.
Marco Hoeberichts, 2002.
"The Credibility of Central Bank Announcements ,"
Banco de España Working Papers
0221, Banco de España.
[Downloadable!]
Kenneth N. Kuttner & Adam S. Posen, 1999.
"Does talk matter after all? Inflation targeting and central bank behavior ,"
Staff Reports
88, Federal Reserve Bank of New York.
[Downloadable!]
Bernhard Winkler, 2000.
"Which kind of transparency? On the need for clarity in monetary policy-making ,"
Working Paper Series
26, European Central Bank.
[Downloadable!]
Wasim Shahid Malik & Musleh-ud Din, 2008.
"Monetary Policy Transparency in Pakistan: An Independent Analysis ,"
PIDE-Working Papers
2008:44, Pakistan Institute of Development Economics.
[Downloadable!]
Paul Hubert, 2009.
"An Empirical Review of Federal Reserve’s Informational Advantage ,"
Documents de Travail de l'OFCE
2009-03, Observatoire Francais des Conjonctures Economiques (OFCE).
[Downloadable!]
Eijffinger, S.C.W. & Hoeberichts, M. & Schaling, E., 1997.
"Why money talks and wealth whispers : monetary uncertainty and mystique ,"
Discussion Paper
47, Tilburg University, Center for Economic Research.
[Downloadable!]
Other versions:
Eijffinger, Sylvester C W & Hoeberichts, Marco & Schaling, Eric, 2000.
"Why Money Talks and Wealth Whispers: Monetary Uncertainty and Mystique ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 32(2), pages 218-35, May.
Gersbach, Hans & Hahn, Volker, 2003.
"Signalling and Commitment: Monetary versus Inflation Targeting ,"
CEPR Discussion Papers
4151, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: Eijffinger, Sylvester C W & van der Cruijsen, Carin A B, 2007.
"The Economic Impact of Central Bank Transparency: A Survey ,"
CEPR Discussion Papers
6070, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions:
Cruijsen, C. van der & Eijffinger, S.C.W., 2007.
"The Economic Impact of Central Bank Transparency: A Survey ,"
Discussion Paper
2007-06, Tilburg University, Center for Economic Research.
[Downloadable!] Carin van der Cruijsen & Sylvester Eijffinger, 2007.
"The economic impact of central bank transparency: a survey ,"
DNB Working Papers
132, Netherlands Central Bank, Research Department.
[Downloadable!] Herschel I. Grossman, 1992.
"Monetary Economics: A Review Essay ,"
NBER Working Papers
3686, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Lorenzo Bini-Smaghi & Daniel Gros, 2001.
"Is the ECB Sufficiently Accountable and Transparent? ,"
Economics Working Papers
007, European Network of Economic Policy Research Institutes.
[Downloadable!]
Seth B. Carpenter, 2004.
"Transparency and monetary policy: what does the academic literature tell policymakers? ,"
Finance and Economics Discussion Series
2004-35, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
Petra Geraats, 2000.
"Why Adopt Transparency? The Publication of Central Bank Forecasts ,"
Center for International and Development Economics Research, Working Paper Series
1009, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
[Downloadable!]
Other versions:
Petra M. Geraats, 2001.
"Why adopt transparency? The publication of central bank forecasts ,"
Working Paper Series
41, European Central Bank.
[Downloadable!] Petra M. Geraats, 2001.
"Why Adopt Transparency? The Publication of Central Bank Forecasts ,"
Macroeconomics
0012011, EconWPA.
[Downloadable!] Geraats, Petra M, 2000.
"Why Adopt Transparency? The Publication of Central Bank Forecasts ,"
CEPR Discussion Papers
2582, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Geraats, P.M., 2001.
"Why Adopt Transparency? The Publication of Central Bank Forecasts ,"
Papers
41, Quebec a Montreal - Recherche en gestion.
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