A Role for Monetary Policy when Prices Reveal Information: An Example
نویسندگان
چکیده
In an example, monetary policy can determine the information revealed by prices, and thus it can be effective. Monetary policy that varies only with public information can guarantee the full revelation of information at equilibrium, which is optimal. Full indexation need not attain full revelation and, as a consequence, need not implement an optimal allocation. Journal of Economic Literature Classification Numbers: D52, D82, E52. 2000 Academic Press
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 95 شماره
صفحات -
تاریخ انتشار 2000