Learning and the great inflation
In: Discussion paper series 6250
In: International macroeconomics
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In: Discussion paper series 6250
In: International macroeconomics
In: ECB Working Paper No. 1694
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Working paper
In: ECB Working Paper No. 2022/2697
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In: CEPR Discussion Paper No. DP17394
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In: Journal of economic dynamics & control, Band 35, Heft 1, S. 40-51
ISSN: 0165-1889
In: Journal of Monetary Economics, Band 56, Heft 6, S. 831-841
The assumption of asymmetric and incomplete information in a standard New Keynesian model creates strong incentives for monetary policy transparency. We assume that the central bank has better information about its objectives than the private sector, and that the private sector has better information about shocks than the central bank. Transparency has the potential to trigger a virtuous circle in which all agents find it easier to make inferences and the economy is better stabilised. Our analysis improves upon existing work by endogenising the volatility of both output and inflation. Improved transparency most likely manifests itself in falling output volatility.
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In: ECB Working Paper No. 1864
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In: Becker Friedman Institute for Research in Economics Working Paper No. 2013-005
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Working paper
In: (Biblioteca degli scrittori militari. Sez. straniera 1)
In: ECB Working Paper No. 2021/2564
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This first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
In: ECB Working Paper No. 20192346
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In: ECB Occasional Paper No. 151
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In: ECB Occasional Paper No. 2021269
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