This paper studies monetary policy under discretion when the central bank ex ante determines information to be acquired … and made public. In a general setting, wherein a monetary instrument signals the central bank's private information, I … show that an optimal information policy comprises the full disclosure of acquired information, which eliminates the …

How much information should a central bank (CB) have about (i) policy objectives and (ii) operational shocks to the … effect of monetary policy? We consider a version of the Barro–Gordon credibility problem in which monetary policy signals an … inflation-biased CB's private information on both these dimensions. We find that greater CB competence—more private information …

's private information. A novel feature is that the central bank ex ante determines how much information it acquires and how much … of this information it releases to the public. Using a static model with a neoclassical Phillips curve, I show that an … optimal information policy is composed of the full disclosure of the bank's acquired information, eliminating the signaling …

that the destabilizing effect of public information is less pronounced experimentally than when it does in theory. This is … information is fully released) is also available. Our experiment is based on subsequent framework of Morris and Shin (2002 … in this paper. Our experiment indicates that - when fully disclosed - players overreact to public information and this …

transparency from public institutions. Central bankers, based on empirical research, also believe that sharing information has … information is that market participants may be less inclined to invest in private information. Theoretical results suggest that …. Crowding out of information acquisition does indeed take place, but only where it is most pronounced does the predictive …

transparency from public institutions. Central bankers, based on empirical research, also believe that sharing information has … information is that market participants may be less inclined to invest in private information. Theoretical results suggest that …. Crowding out of information acquisition does indeed take place, but only where it is most pronounced does the predictive …