Transparency regulation aims at reducing financial fragility by strengthening market discipline.There are however two … financial safety net may eliminate the disciplinary effect of transparency regulation.Second, achieving transparency is costly … both the direct costs of complying with disclosure requirements and the indirect transparency costs stemming from imperfect …

: transparency of actual monetary policy and the question of who bears final responsibility for monetary policy. The paper shows that … accountability through transparency leads to a lower expected rate of inflation and less stabilization of supply shocks …

concept of transparency of an ownership structure is defined. Implications of non-transparency for general equilibrium theory …