Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152889
Authors: 
Pearlman, Joseph G.
Year of Publication: 
2005
Series/Report no.: 
ECB Working Paper 455
Abstract: 
We investigate the role of economic transparency within the framework of one of Townsend’s models of ‘forecasting the forecasts of others’. The equilibrium has the property that ‘higher order beliefs’ are coordinated into a finite-dimensional setup that is amenable to address monetary policy issues. We focus here on the role of public information about the money supply, and find that it should be fully revealing.
Subjects: 
Asymmetric information
central banks
public information
transparency
JEL: 
D82
E58
Document Type: 
Working Paper

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