التفاصيل البيبلوغرافية
| العنوان: |
Optimal Degree of Public Information Dissemination. |
| المؤلفون: |
Cornand, Camille, Heinemann, Frank |
| المصدر: |
Economic Journal. Apr2008, Vol. 118 Issue 528, p718-742. 25p. 1 Diagram. |
| مصطلحات موضوعية: |
*PUBLICITY, *FINANCIAL markets, *MACROECONOMICS, *EXTERNALITIES, *PUBLIC finance, INFORMATION measurement |
| مستخلص: |
Financial markets and macroeconomic environments are often characterised by positive externalities. In these environments, transparency may reduce expected welfare: public announcements serve as focal points for higher-order beliefs and affect agents’ behaviour more than justified by their informational contents. Some scholars conclude that reducing public signals’ precision or entirely withholding information may improve welfare. This article shows that public information should always be provided with maximum precision but, under certain conditions, not to all agents. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public announcements than restrictions on their precision are. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
Business Source Index |
