Communication and Monetary Policy

22 Pages Posted: 8 Mar 2003

See all articles by Jeffery D. Amato

Jeffery D. Amato

Goldman Sachs International

Stephen Morris

MIT

Hyun Song Shin

Bank for International Settlements (BIS)

Multiple version iconThere are 2 versions of this paper

Date Written: March 2003

Abstract

One role of monetary policy is to coordinate expectations in the economy and greater transparency of monetary policy may lead to greater coordination. But if transparent monetary policy helps coordinate expectations, then it must also magnify mistakes.

Keywords: Communication, Monetary Policy, Transparency, Common Knowledge

JEL Classification: C7, E5

Suggested Citation

Amato, Jeffery D. and Morris, Stephen Edward and Shin, Hyun Song, Communication and Monetary Policy (March 2003). Cowles Foundation Discussion Paper No. 1405. Available at SSRN: https://ssrn.com/abstract=386082

Jeffery D. Amato

Goldman Sachs International ( email )

United States

Stephen Edward Morris (Contact Author)

MIT ( email )

77 Massachusetts Avenue
50 Memorial Drive
Cambridge, MA 02139-4307
United States

HOME PAGE: http://https://economics.mit.edu/faculty/semorris

Hyun Song Shin

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

HOME PAGE: http://www.bis.org/author/hyun_song_shin.htm

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