Despite the recent trend towards greater transparency of monetary policy, in many respects mystique still prevails in … assumption of imperfect common knowledge about the degree of central bank transparency, economic outcomes are affected by both … the actual and perceived degree of transparency. It is shown that actual transparency is beneficial while it may be useful …

Despite the recent trend towards greater transparency of monetary policy, in many respects mystique still prevails in … assumption of imperfect common knowledge about the degree of central bank transparency, economic outcomes are affected by both … the actual and perceived degree of transparency. It is shown that actual transparency is beneficial while it may be useful …