著者

島本 哲朗

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.42, no.1, pp.50-61, 1991-03-20 (Released:2007-10-19)

参考文献数

14

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There is a general view that the monetary authority can attain a better performance by using information known only to it. This paper discusses the validity of this view under the situation where the monetary authority does not know the information sets of the private sector. We conclude that while the above view still holds if the information known only to the monetary authority is released to the private sector, it is not necessarily true if such information is used to the feedback rule of money supply.