Monetary Policy with Internal Central Bank Forecasting: A Case of Heterogenous Information

Kaushik Mitra and Seppo Honkapohja

(2004)

Kaushik Mitra and Seppo Honkapohja (2004) Monetary Policy with Internal Central Bank Forecasting: A Case of Heterogenous Information.

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Abstract

Honkapohja and Mitra (2003) have analyzed the desirability of optimal and ad hoc interest rules in monetary policy when the forecasts of the private sector and the central bank are heterogenous but information is symmetric. Here we analyze the case of asymmetric information in which one party does not observe all observable shocks that the other party sees.

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This is a Accepted version
This version's date is: 2004
This item is not peer reviewed

Link to this Version

https://repository.royalholloway.ac.uk/items/45554224-4d61-ecdd-7076-42ea55c3fc94/1/

Item TypeMonograph (Working Paper)
TitleMonetary Policy with Internal Central Bank Forecasting: A Case of Heterogenous Information
AuthorsMitra, Kaushik
Honkapohja, Seppo
Uncontrolled KeywordsAdaptive learning, stability, heterogeneity, asymmetric information, monetary policy.
DepartmentsFaculty of History and Social Science\Economics

Deposited by Leanne Workman (UXYL007) on 15-Oct-2012 in Royal Holloway Research Online.Last modified on 15-Oct-2012

Notes

 

©2004 Seppo Honkapohja and Kaushik Mitra. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit including © notice, is given to the source.

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