CENTRAL BANKER TALK / COMUNICAÇÃO DO BANCO CENTRAL

AUTOR(ES)

FERNANDO GRACIANO BIGNOTTO

DATA DE PUBLICAÇÃO

2008

RESUMO

This paper considers the role played by communication as a policy instrument by the Central Bank. In the model, a Central Banker who is better informed than the price setters about the state of the Economy can, through (cheap talk) communication, influence their pricing behavior. We relate the degree of communication to fundamentals of the economy such as the Central Banker`s preferences, the amount of information possessed by market agents and the degree of complementarity in their price- setting decisions.

ASSUNTO(S)

comunicacao global games jogos globais communication central bank banco central

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