Inflation and output volatility under asymmetric incomplete information.
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 informatio...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
European Central Bank
2009
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