Showing 1 - 10 of 10
This paper analyses the ECB communication, focusing in particular on its transparency dimension. We posit that if the …
Persistent link: https://www.econbiz.de/10010745720
transparency on action is detrimental to the principal. The paper also shows the existence of complementarities between … transparency on action and transparency on consequence. The results are used to interpret existing disclosure policies in politics …
Persistent link: https://www.econbiz.de/10010746006
these signals sufficiently differ. We derive some implications for information dissemination policy. Transparency in this …
Persistent link: https://www.econbiz.de/10010746034
This paper analyzes the welfare effects of economic transparency in the conduct of monetary policy. We propose a model … monetary policy and the optimal central bank's disclosure. We define transparency as an announcement by the central bank that … allows firms to identify the rationale behind the instrument. It turnsout that transparency is welfare increasing (i) when …
Persistent link: https://www.econbiz.de/10010746660
How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We … (particularly Latent Dirichlet Allocation) to measure the effect of increased transparency on debate. Commentators have hypothesized … the career concerns literature uncovers evidence for both effects. However, the net effect of increased transparency …
Persistent link: https://www.econbiz.de/10011126043
community. Three coordination tensions are identified at different temporal dimensions, namely obtaining adequate transparency …
Persistent link: https://www.econbiz.de/10011126070
How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We … (particularly Latent Dirichlet Allocation) to measure the effect of increased transparency on debate. Commentators have hypothesized … the career concerns literature uncovers evidence for both effects. However, the net effect of increased transparency …
Persistent link: https://www.econbiz.de/10011126095
the notion of transparency. …
Persistent link: https://www.econbiz.de/10011126163
of transparency, in this paper we consider one potential cost: the possibility that publishing detailed records of …
Persistent link: https://www.econbiz.de/10011071288
The classical doctrine of the Lender of Last Resort, elaborated by Thornton (1802) and Bagehot (1873), asserts that the Central Bank should lend to “illiquid but solvent” banks under certain conditions. Several authors have argued that this view is now obsolete: when interbank markets are...
Persistent link: https://www.econbiz.de/10011071502