This paper examines the role of transparency in a benevolent monetary authority's policies. Each firm's payoff depends on unobservable macroeconomic conditions and firms may incur a cost to acquire private information about macroeconomic conditions. The policy authority attempts to infer the...

The Environmental impact assessment (EIA) procedure foresees that the information on the environmental effects of a specific activity are used to support the decision on whether to give a project consent, and has the ability to ensure no more than that the decision taken is an informed one. As...