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The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...
Persistent link: https://www.econbiz.de/10011697387
On the basis of a unique database of policy makers’ comments, we find that central bank communication does influence behavior of financial markets. This effect is asymmetric and depends on the contents and direction of the statements. Moreover, we investigate whether individual characteristics...
Persistent link: https://www.econbiz.de/10009641433
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provide guidance for improving transparency while maintaining trader confidentiality. In addition, we analyze liquidity in the …
Persistent link: https://www.econbiz.de/10010361830
I investigate the effect of transparency on the borrowing costs of Emerging Markets Economies. Transparency is measured …
Persistent link: https://www.econbiz.de/10010308569
I investigate the effect of transparency on the borrowing costs of Emerging Markets Economies. Transparency is measured …
Persistent link: https://www.econbiz.de/10010958794
Lack of transparency in securitization transactions significantly contributed to the severe financial crisis of 2007 …–2009. To increase transparency we propose a new mechanism: financial claims with fingerprints. They would allow market … considerably enhance transparency in securitization transactions at the expense of some transaction costs, while reducing the need …
Persistent link: https://www.econbiz.de/10005207947
central bank transparency are two factors common to all countries examined whereas clear idiosyncrasies are found according to …
Persistent link: https://www.econbiz.de/10010868621
This paper investigates whether macroeconomic and data transparency standards lead to lower borrowing costs in …. However, the adherence of these markets to the Code of Good Practices on Transparency in Monetary and Financial Policies … Fiscal Transparency on the changes of sovereign spreads. In addition, the results suggest that a debtor country’s internal …
Persistent link: https://www.econbiz.de/10004968648