Differential Information and the Role for an Active Stabilization Policy
Bibliographic Data
| ID | 9726116 |
|---|---|
| Authors | Torben M Andersen (0000-0001-5513-1890, corresponding author) |
| Year | 1986 |
| Volume | 53 |
| Issue | 211 |
| Pages | 321 |
| Publication date | 1986-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554137 |
| OpenAlex | W2060930460 |
| Language | EN |
| Citations received | 1 |
| References cited | 4 |
The paper considers the possibility of pursuing a systematic monetary policy to overcome the coordination problems arising when agents have differential information. It is shown that a monetary feedback rule involving current feedback but no prospective feedback can eliminate the information problem making the implications of the differential information immaterial for real allocations. The paper also considers a private indexation scheme as a substitute for monetary policy, and it is shown that these differ since indexation on currently known variables is neutral. Indexation of a prospective nature is, however, equivalent to a prospective feedback to the money supply
Control (management) · Control theory (sociology) · Differential (mechanical device) · Economics · Indexation · Monetary economics · Monetary policy · Economic theories and models · Economic Theory and Policy · Engineering · Monetary Policy and Economic Impact
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,03 |
| Citation span | 1987 - 1987 (1) |
| Citation velocity | historical |
| Highly cited | No |