Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125390147> ?p ?o ?g. }
Showing items 1 to 87 of
87
with 100 items per page.
- W3125390147 abstract "When the central bank has information that can help the private sector predict the future better, should it communicate such information to the public? Not always. In a canonical New Keynesian model, the central bank finds it optimal to commit to being secretive about news shocks. There exists an expected virtue of ignorance; and secrecy constitutes optimal policy. This result holds in the canonical model when the news is about cost-push shocks, or shocks to the monetary policy objective, or shocks to the natural rate of interest, and even when the zero lower bound of nominal interest rates is taken into account. We also demonstrate through numerical examples that the same result holds for richer models too. A lesson of our analysis for a central bank's communication strategy is that, while it is crucial that the central bank uses Odyssean forward guidance to communicate its history-dependent policy action plan to the private sector, Delphic forward guidance that helps the private sector form more accurate forecasts of future shocks can be undesirable." @default.
- W3125390147 created "2021-02-01" @default.
- W3125390147 creator A5022968676 @default.
- W3125390147 creator A5027895940 @default.
- W3125390147 date "2015-01-01" @default.
- W3125390147 modified "2023-09-26" @default.
- W3125390147 title "Private News and Monetary Policy Forward Guidance or (The Expected Virtue of Ignorance)" @default.
- W3125390147 doi "https://doi.org/10.2139/ssrn.2643964" @default.
- W3125390147 hasPublicationYear "2015" @default.
- W3125390147 type Work @default.
- W3125390147 sameAs 3125390147 @default.
- W3125390147 citedByCount "0" @default.
- W3125390147 crossrefType "journal-article" @default.
- W3125390147 hasAuthorship W3125390147A5022968676 @default.
- W3125390147 hasAuthorship W3125390147A5027895940 @default.
- W3125390147 hasBestOaLocation W31253901472 @default.
- W3125390147 hasConcept C10688316 @default.
- W3125390147 hasConcept C121426985 @default.
- W3125390147 hasConcept C126285488 @default.
- W3125390147 hasConcept C139719470 @default.
- W3125390147 hasConcept C153180980 @default.
- W3125390147 hasConcept C162324750 @default.
- W3125390147 hasConcept C175025494 @default.
- W3125390147 hasConcept C17744445 @default.
- W3125390147 hasConcept C185824701 @default.
- W3125390147 hasConcept C199539241 @default.
- W3125390147 hasConcept C202655504 @default.
- W3125390147 hasConcept C2778078003 @default.
- W3125390147 hasConcept C2778732403 @default.
- W3125390147 hasConcept C2992735868 @default.
- W3125390147 hasConcept C38652104 @default.
- W3125390147 hasConcept C41008148 @default.
- W3125390147 hasConcept C50522688 @default.
- W3125390147 hasConcept C556758197 @default.
- W3125390147 hasConcept C77088390 @default.
- W3125390147 hasConcept C88583849 @default.
- W3125390147 hasConcept C99221444 @default.
- W3125390147 hasConceptScore W3125390147C10688316 @default.
- W3125390147 hasConceptScore W3125390147C121426985 @default.
- W3125390147 hasConceptScore W3125390147C126285488 @default.
- W3125390147 hasConceptScore W3125390147C139719470 @default.
- W3125390147 hasConceptScore W3125390147C153180980 @default.
- W3125390147 hasConceptScore W3125390147C162324750 @default.
- W3125390147 hasConceptScore W3125390147C175025494 @default.
- W3125390147 hasConceptScore W3125390147C17744445 @default.
- W3125390147 hasConceptScore W3125390147C185824701 @default.
- W3125390147 hasConceptScore W3125390147C199539241 @default.
- W3125390147 hasConceptScore W3125390147C202655504 @default.
- W3125390147 hasConceptScore W3125390147C2778078003 @default.
- W3125390147 hasConceptScore W3125390147C2778732403 @default.
- W3125390147 hasConceptScore W3125390147C2992735868 @default.
- W3125390147 hasConceptScore W3125390147C38652104 @default.
- W3125390147 hasConceptScore W3125390147C41008148 @default.
- W3125390147 hasConceptScore W3125390147C50522688 @default.
- W3125390147 hasConceptScore W3125390147C556758197 @default.
- W3125390147 hasConceptScore W3125390147C77088390 @default.
- W3125390147 hasConceptScore W3125390147C88583849 @default.
- W3125390147 hasConceptScore W3125390147C99221444 @default.
- W3125390147 hasLocation W31253901471 @default.
- W3125390147 hasLocation W31253901472 @default.
- W3125390147 hasLocation W31253901473 @default.
- W3125390147 hasOpenAccess W3125390147 @default.
- W3125390147 hasPrimaryLocation W31253901471 @default.
- W3125390147 hasRelatedWork W117998066 @default.
- W3125390147 hasRelatedWork W1502148137 @default.
- W3125390147 hasRelatedWork W1523511911 @default.
- W3125390147 hasRelatedWork W1571693271 @default.
- W3125390147 hasRelatedWork W2103487721 @default.
- W3125390147 hasRelatedWork W2468366770 @default.
- W3125390147 hasRelatedWork W2481082442 @default.
- W3125390147 hasRelatedWork W2491393422 @default.
- W3125390147 hasRelatedWork W2530519356 @default.
- W3125390147 hasRelatedWork W2562286088 @default.
- W3125390147 hasRelatedWork W3017801768 @default.
- W3125390147 hasRelatedWork W3022835665 @default.
- W3125390147 hasRelatedWork W3111615376 @default.
- W3125390147 hasRelatedWork W3121229647 @default.
- W3125390147 hasRelatedWork W3125305289 @default.
- W3125390147 hasRelatedWork W3125370046 @default.
- W3125390147 hasRelatedWork W318162558 @default.
- W3125390147 hasRelatedWork W411424233 @default.
- W3125390147 hasRelatedWork W8870277 @default.
- W3125390147 hasRelatedWork W2514341031 @default.
- W3125390147 isParatext "false" @default.
- W3125390147 isRetracted "false" @default.
- W3125390147 magId "3125390147" @default.
- W3125390147 workType "article" @default.