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A Role for Monetary Policy When Prices Reveal Information: An Example

Author

Listed:
  • Heracles M. Polemarchakis

    (Department of Economics [Providence] - Brown University, CORE - Center of Operation Research and Econometrics [Louvain] - UCL - Université Catholique de Louvain = Catholic University of Louvain)

  • G. Seccia

Abstract

In an example, monetary policy can determine the information revealed by prices, and thus it can be effective, even desirable.
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Suggested Citation

  • Heracles M. Polemarchakis & G. Seccia, 1994. "A Role for Monetary Policy When Prices Reveal Information: An Example," Working Papers hal-00607666, HAL.
    • Handle: RePEc:hal:wpaper:hal-00607666
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    Citations

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    Cited by:

    1. Céline Rochon & Herakles Polemarchakis, 2006. "Debt, liquidity and dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(1), pages 179-211, January.
    2. Banerjee, Anurag N. & Seccia, Giulio, 2002. "On the "Hirshleifer effect'' of unscheduled monetary policy announcements," Discussion Paper Series In Economics And Econometrics 213, Economics Division, School of Social Sciences, University of Southampton.
    3. Banerjee, Anurag N. & Seccia, Giulio, 2002. "On the "Hirshleifer effect'' of unscheduled monetary policy announcements," Discussion Paper Series In Economics And Econometrics 0213, Economics Division, School of Social Sciences, University of Southampton.
    4. Donati, Paola, 2003. "Indeterminacy of rational expectations equilibria in sequential financial markets," Working Paper Series 262, European Central Bank.

    More about this item

    Keywords

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    JEL classification:

    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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