Using a model of island economy where financial markets aggregate dispersed information of the public, we analyze how two-way communication between the central

This paper studies the role of central bank communication of its economic assessment in shaping inflation dynamics. Imperfect information about the central bank

Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring t

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the internation

Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communi