Clear central bank communication facilitates greater policy flexibility: IMF paper

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An International Monetary Fund (IMF) paper published on August 29, finds evidence that imperfect central bank communication leads to asymmetries between the private sectors in economic assessments.

The paper's authors, Man-Keung Tang and Xiangrong Yu, build a New Keynesian model with asymmetric economic assessments between the central bank and the private sector to examine the role played by central bank communication in shaping inflation dynamics.

The authors note that imperfect information

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