Title: Credibility of Policy Announcements Under Asymmetric Information
Abstract: In a simple macro-economic model, where the monetary authorities possess superior information about real shocks, the scope for an active stabilization policy is shown to depend on the credibility of the policy maker. Lack of credibility increases the need for an active stabilization policy.
Publication Year: 1999
Publication Date: 1999-11-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 1
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