Central bank communication: fragmentation as an engine for limiting the publicity degree of information

Emna Trabelsi

MPRA Paper from University Library of Munich, Germany

Abstract: In earlier theoretical framework, Morris and Shin (2002) highlight the potential dangers of transparency policy. In particular, public announcements may be detrimental to social welfare. Later, Morris and Shin (2005) uphold that more precise communication can degrade the signal value of prices. Researchers suggest reducing the precision of public information or withholding it. Cornand and Heinemann (2008) suggest rather limiting the publicity degree. We found that the same effect can be reached by establishing fragmented public information, but in presence of private signal.

Keywords: transparency; central bank communication; semi public information; private information; coordination (search for similar items in EconPapers)
JEL-codes: D82 D83 E58 (search for similar items in EconPapers)
Date: 2010-11-05
New Economics Papers: this item is included in nep-cba, nep-cta, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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