Verfügbarkeit: Imperfect Central Bank Communication

Imperfect Central Bank Communication: Information Versus Distraction

Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the value of communicating imperfect information is ambiguous. Ther...

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Bibliographische Detailangaben
1. Verfasser:	Orphanides, Athanasios (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2008
Schriftenreihe:	IMF Working Papers Working Paper No. 08/60
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the value of communicating imperfect information is ambiguous. There is a risk that the central bank can distract the public; this means that the central bank may prefer to focus its communication policies on the information it knows most about. Indeed, conveying more certain information may improve the public''s understanding to the extent that it ""crowds out"" a role for communicating imperfect information
Beschreibung:	1 Online-Ressource (31 p)
ISBN:	1451869223 9781451869224

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spelling	Orphanides, Athanasios Verfasser aut Imperfect Central Bank Communication Information Versus Distraction Orphanides, Athanasios Washington, D.C International Monetary Fund 2008 1 Online-Ressource (31 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/60 Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the value of communicating imperfect information is ambiguous. There is a risk that the central bank can distract the public; this means that the central bank may prefer to focus its communication policies on the information it knows most about. Indeed, conveying more certain information may improve the public''s understanding to the extent that it ""crowds out"" a role for communicating imperfect information Online-Ausg Dale, Spencer Sonstige oth Österholm, Pär Sonstige oth http://elibrary.imf.org/view/IMF001/09105-9781451869224/09105-9781451869224/09105-9781451869224.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Orphanides, Athanasios Imperfect Central Bank Communication Information Versus Distraction
title	Imperfect Central Bank Communication Information Versus Distraction
title_auth	Imperfect Central Bank Communication Information Versus Distraction
title_exact_search	Imperfect Central Bank Communication Information Versus Distraction
title_exact_search_txtP	Imperfect Central Bank Communication Information Versus Distraction
title_full	Imperfect Central Bank Communication Information Versus Distraction Orphanides, Athanasios
title_fullStr	Imperfect Central Bank Communication Information Versus Distraction Orphanides, Athanasios
title_full_unstemmed	Imperfect Central Bank Communication Information Versus Distraction Orphanides, Athanasios
title_short	Imperfect Central Bank Communication
title_sort	imperfect central bank communication information versus distraction
title_sub	Information Versus Distraction
url	http://elibrary.imf.org/view/IMF001/09105-9781451869224/09105-9781451869224/09105-9781451869224.xml
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