: 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 …

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 …

transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … much attention to the proper transparency and provide significant information about their decisions and policy making … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …

: 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 …

indeed have improved transparency in the sense that information is now released to the markets at an earlier time and with …

Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of … the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and …, but may reduce it when uncertainty is low. The findings underline the limits to transparency and stress the need for …

. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold … the limits to central bank transparency. …

forecasters. The FOMC's shift towards more transparency in 1994 had an impact on how members revised their forecasts and …