| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15424 |
| 来源ID | Working Paper 15424 |
| Inflation targeting and private sector forecasts | |
| Stephen G. Cecchetti; Craig Hakkio | |
| 发表日期 | 2009-10-13 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Transparency is one of the biggest innovations in central bank policy of the past quarter century. Modern central bankers believe that they should be as clear about their objectives and actions as possible. However, is greater transparency always beneficial? Recent work suggests that when private agents have diverse sources of information, public information can cause them to overreact to the signals from the central bank, leading the economy to be too sensitive to common forecast errors. Greater transparency could be destabilizing. While this theoretical result has clear intuitive appeal, it turns on a combination of assumptions and conditions, so it remains to be established that it is of empirical relevance. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w15424 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573100 |
| 推荐引用方式 GB/T 7714 | Stephen G. Cecchetti,Craig Hakkio. Inflation targeting and private sector forecasts. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15424.pdf（375KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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