Series: IMF Working Papers
Author(s): Athanasios Orphanides , Spencer Dale , and Pär Österholm
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2008
Keywords: Forecasts, Learning, inflation, central bank,
Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communications in a model of imperfect knowledge and learning...