Social Value of Information and Optimal Communication Policy of Central Banks

Ahmad-Reza Jalali-Naini and Mohammad-Amin Naderian
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Ahmad-Reza Jalali-Naini: Institute for Management and Planning Studies; Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran
Mohammad-Amin Naderian: Allameh Tabatabaei University

Journal of Money and Economy, 2014, vol. 9, issue 3, 31-57

Abstract: Monetary policy as a tool for expectations management is believed to be most effective if it can coordinate the beliefs and expectations of the economic agents. The optimal communication policy is in an environment where central bank announcements are common knowledge and abundant information is complete transparency. The above conclusion is

Keywords: Optimal communication policy; Common sense; Strategic complementarity; Transparency (search for similar items in EconPapers)
Date: 2014
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