Forward guidance: Communication, commitment, or both?
Forward guidance has been suggested as a form of commitment (“Odyssean”) by the policymaker or as a way of conveying information (“Delphic”). I analyze the interaction between households and the central bank as a game in which the central bank sends messages. Without private information, the set of...
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| Format: | Article |
| Language: | English |
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Elsevier B.V.
2019
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| Online Access: | View Fulltext in Publisher |