The informational content of prices when policy makers react to financial markets

DOI10.1016/J.JET.2018.11.002MaRDI QIDQ1757545zbMATH OpenOpenAlexWikidataFDO

Authors Christoph Siemroth

Publication date 15 January 2019

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL http://repository.essex.ac.uk/23464/1/impossibility-noise09-finalformatting.pdf

zbMATH Keywords

asymmetric informationcentral bank transparencyfinancial marketspolicy riskprice informativenessrational expectations equilibrium

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites work

• Manipulation and the Allocational Role of Prices
• On existence and uniqueness of equilibrium in a class of noisy rational expectations models
• On the aggregation of information in competitive markets
• Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
• The exact law of large numbers via Fubini extension and characterization of insurable risks
• The Fed's monetary policy rule and U.S. Inflation: The case of asymmetric preferences

Cited in

(4)

• A role for monetary policy when prices reveal information: An example
• An informational rationale for action over disclosure
• Selloffs, bailouts, and feedback: can asset markets inform policy?
• Asset prices' responses to public information manipulation: the role of market feedback

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