Forward guidance announcements and policy effectiveness

Acocella, Nicola (2014) Forward guidance announcements and policy effectiveness. Working Paper. Università degli studi di Roma La Sapienza, Roma.

[img]
Preview
 PDF
acocella_forward_guidance_WP124TestoMEMOTEFonline.pdf
Download (632kB)

Abstract

In this paper we investigate the foundations of forward guidance in the light of the theory of controllability in a strategic context. The announcement of future suitable policies can facilitate the control of the economic system by the policymaker, where the term ‘control’ is used in the sense of the ‘classical’ theory of economic policy developed by Tinbergen (1952) and others and recently revived in a strategic context. In this context the contribution of forward guidance to controllability has been recognized. However, existing studies have not indicated either the ways through which the different types of announcement can have this effect or the necessary conditions for that.

Item Type: Monograph (Working Paper)
Additional Information: Working paper del Dipartimento di Metodi e modelli per l'economia il territorio e la finanza, Università di Roma La Sapienza, ISSN 2239608X; Working paper n.124 March 2014
Uncontrolled Keywords: Forward guidance, Controllability, Theory of economic policy in a strategic context
Subjects: 300 Scienze sociali > 330 Economia
Depositing User: Marco Martini
Date Deposited: 08 Apr 2014 12:38
Last Modified: 08 Apr 2014 12:38
URI: http://eprints.bice.rm.cnr.it/id/eprint/8723

Actions (login required)

View Item View Item
CNR Solar is powered by EPrints 3 which is developed by the School of Electronics and Computer Science at the University of Southampton. More information and software credits.