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A role for monetary policy when prices reveal information: an example

A role for monetary policy when prices reveal information: an example
A role for monetary policy when prices reveal information: an example
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.
0022-0531
107-115
Polemarchakis, H.M.
633fd2f4-f97f-4ce6-b67d-df12bb03ad41
Seccia, G.
5fb5c6bf-4289-4962-9682-d2decbb0c4ba
Polemarchakis, H.M.
633fd2f4-f97f-4ce6-b67d-df12bb03ad41
Seccia, G.
5fb5c6bf-4289-4962-9682-d2decbb0c4ba

Polemarchakis, H.M. and Seccia, G. (2000) A role for monetary policy when prices reveal information: an example. Journal of Economic Theory, 95 (1), 107-115. (doi:10.1006/jeth.2000.2686).

Record type: Article

Abstract

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.

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Published date: 2000

Identifiers

Local EPrints ID: 32908
URI: https://eprints.soton.ac.uk/id/eprint/32908
ISSN: 0022-0531
PURE UUID: 9464ff59-2572-49ae-ae93-f2bd70c1c03e

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Date deposited: 20 Dec 2006
Last modified: 17 Jul 2017 15:54

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