-inconsistency problem; 5) central bank independence helps improve the efficacy of monetary policy; and 6) a strong nominal anchor is the key …

This paper asks the question: can central bank transparency go too far? Transparency is beneficial only when it serves …, particularly a central bank announcement of its objective function or projections of the path of the policy interest rate, will … complicate the communication process and weaken support for a central bank focus on long-run objectives. Transparency can indeed …

This paper looks at why bank consolidation has been taking place in the United States and what the structure of the … banking industry might look like in the future. It then discusses the implications of bank consolidation for the economy and …