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Communication and Monetary Policy

Author

Listed:
  • Stephen Morris

    (Yale University, Cowles Foundation)

  • Jeffery D. Amato

    (Bank for International Settlements (BIS))

  • Hyun Song Shin

    (University of London, London School of Economics & Political Science (LSE), Department of Accounting and Finance)

Abstract

One role of monetary policy is to coordinate expectations in the economy and greater transparency of monetary policy may lead to greater coordination. But if transparent monetary policy helps coordinate expectations, then it must also magnify mistakes.

Suggested Citation

  • Stephen Morris & Jeffery D. Amato & Hyun Song Shin, 2004. "Communication and Monetary Policy," Yale School of Management Working Papers ysm345, Yale School of Management.
  • Handle: RePEc:ysm:somwrk:ysm345
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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