Document Type
Discussion Paper
Publication Date
3-1-2003
CFDP Number
1405
CFDP Pages
21
Abstract
One role of monetary policy is to coordinate expectations in the economy and greater transparency of monetary policy may lead to greater coordination. But if transparent monetary policy helps coordinate expectations, then it must also magnify mistakes.
Recommended Citation
Amato, Jeffrey; Morris, Stephen; and Shin, Hyun Song, "Communication and Monetary Policy" (2003). Cowles Foundation Discussion Papers. 1673.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1673