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Central bank transparency and private information in a dynamic macroeconomic model Author info | Abstract | Publisher info | Download info | Related research | Statistics Joseph G. Pearlman () (London Metropolitan University – Department of Economics, Finance and International Business (EFIB), 84 Morgate, London EC2M 6SQ, United Kingdom. )
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We investigate the role of economic transparency within the framework of one of Townsend’s models of ‘forecasting the forecasts of others’. The equilibrium has the property that ‘higher order beliefs’ are coordinated into a finite-dimensional setup that is amenable to address monetary policy issues. We focus here on the role of public information about the money supply, and find that it should be fully revealing.
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Paper provided by European Central Bank in its series Working Paper Series with number
455.
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Length: 19 pages
Date of creation: Mar 2005Date of revision:
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Keywords: Transparency central banks asymmetric information public information. Other versions of this item:
Find related papers by JEL classification: D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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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.: Jeffrey D. Amado & Stephen Morris & Hyun Song Shin, 2003.
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Faust, J. & Svensson, L.E.O., 1998.
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"Knowing the Forecasts of Others ,"
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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.)
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.
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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.
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