Information and Uncertainty in the Theory of Monetary Policy

Helmut Wagner

No 2007/1 in SUERF Studies from SUERF - The European Money and Finance Forum, currently edited by Natacha Valla

Abstract: Theory and practice of monetary policy have changed significantly over the past three decades. A very important part of today's monetary policy is management of the expectations of private market participants. Publishing and justifying the central bank's best forecast of inflation, output, and the instrument rate is argued to be the most effective way to manage those expectations.

Keywords: central banks; communication policy; institutional design; uncertainty; microfoundation (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2007
ISBN: 978-3-902109-36-1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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