We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the … to disagree forever. Although the learning process converges, leading to common knowledge of the individual decisions …, the decisions differ no matter how long the communication lasts. Such persistent disagreements are precluded in Bayesian …

Does the Federal Reserve follow a communication rule? We propose a simple framework to estimate communication rules … communication rules that vary over time, with changes in the rule often being associated with changes in the economic environment …. We also find that shifts in communication rules increase disagreement among professional forecasters and correlate with …