أعرض تسجيلة المادة بشكل مبسط

dc.creator Cornand, Camille
dc.creator Heinemann, Frank
dc.date 2004
dc.date.accessioned 2013-10-16T07:00:59Z
dc.date.available 2013-10-16T07:00:59Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18716
dc.identifier ppn:477413625
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18716
dc.description In currency exchange markets, there is a conflict between individual decisions and the socially optimal solution. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se is not socially valuable, and the central bank aims at driving agents? actions as close as possible to the economic fundamental state. Some studies argue that it might be better to withhold public information because its potential to serve as a focal point induces agents to exaggerate the importance of public announcements. This paper shows that public information should always be provided with maximum precision, but under certain condition not to all agents. Restrictions on the degree of publicity are a better instrument with which to prevent the negative welfare effects of public announcements than restrictions on their precision are. The optimal degree of publicity is always positive.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1353
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F31
dc.subject D82
dc.subject C73
dc.subject ddc:330
dc.subject transparency
dc.subject public information
dc.subject private information
dc.subject common p-beliefs
dc.subject coordination
dc.subject strategic complementarity
dc.subject Devisenmarkt
dc.subject Devisenspekulation
dc.subject Geldpolitik
dc.subject Staatliche Information
dc.subject Ankündigungseffekt
dc.subject Informationsverbreitung
dc.subject Wohlfahrtseffekt
dc.subject Theorie
dc.title Optimal degree of public information dissemination
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط