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Evaluating communication strategies for public agencies: transparency, opacity, and secrecy
Lindner, Axel - 2008
This paper analyses in a simple global games framework welfare effects stemming from different communication strategies of public agencies if strategies of agents are complementary to each other: communication can either be fully transparent, or the agency opaquely publishes only its overall...
Persistent link: https://www.econbiz.de/10010269906
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Why the publication of socially harmful information may be socially desirable
Hahn, Volker - 2009 - This version: November 2009
signaling incentives under opacity. Our model may also explain the recent trend towards more transparency in monetary policy. …
Persistent link: https://www.econbiz.de/10008746680
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How avoiding overreaction to public information? : some insights on central bank communication practices
Trabelsi, Emna - 2012
It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …
Persistent link: https://www.econbiz.de/10011526649
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Does too much transparency of central banks prevent agents from using their private information efficiently?
Lindner, Axel (contributor) - 2007
complements, for which case it has been argued that too much transparency might induce agents to neglect their private knowledge …. -- transparency ; private information ; common knowledge …
Persistent link: https://www.econbiz.de/10003613010
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Evaluating communication strategies for public agencies : transparency, opacity, and secrecy
Lindner, Axel - 2008
public instead of denying access to public information. -- transparency ; private information ; common knowledge …
Persistent link: https://www.econbiz.de/10003747918
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Endogenous Information and Central Bank Transparency
Tamura, Wataru - 2015
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...
Persistent link: https://www.econbiz.de/10013026571
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Transparency in Monetary Policy, Signaling, and Heterogeneous Information
Hahn, Volker - 2010
desirable. We show that opacity may lead to the same equilibrium as transparency. However, additional equilibria may emerge … and its effects on inflation and output. In this case, transparency has ambiguous effects. It reduces output variance and … the distortions stemming from heterogeneous information. However, transparency generally raises the variance of inflation …
Persistent link: https://www.econbiz.de/10013147417
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Limited higher order beliefs and the welfare effects of public information
Cornand, Camille; Heinemann, Frank - 2013
In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...
Persistent link: https://www.econbiz.de/10009787097
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Information Design, Signaling, and Central Bank Transparency
Tamura, Wataru - 2018
This study examines monetary policy and central bank communication when a monetary instrument signals the central bank'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....
Persistent link: https://www.econbiz.de/10012930476
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Central bank reputation, cheap talk and transparency as substitutes for commitment : experimental evidence
Duffy, John; Heinemann, Frank - 2016 - This Draft: 2 December 2016
explore whether central bank cheap talk, policy transparency, both cheap talk and policy transparency or economic transparency …
Persistent link: https://www.econbiz.de/10011572114