signaling incentives under opacity. Our model may also explain the recent trend towards more transparency in monetary policy. …

This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers … variables and institutional transparency, as well as instrumenting MPCT in various ways. …

: 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 …

We develop a comprehensive index of the transparency of central banks regarding their policy framework to promote … financial stability for 110 countries from 2000 to 2011 and examine the determinants and effects of this transparency. We find … that the degree of transparency increased in the 2000s, though it still varied greatly across the countries in our study …

We develop a comprehensive index of the transparency of central banks regarding their policy framework to promote … financial stability for 110 countries from 2000 to 2011 and examine the determinants and effects of this transparency. We find … that the degree of transparency increased in the 2000s, though it still varied greatly across the countries in our study …

There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper …. Furthermore, it reviews the theoretical literature on monetary policy transparency and relevant empirical findings. The focus is …

We investigate the role of economic transparency within the framework of one of Townsend’s models of ‘forecasting the …