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 …

We examine how the transparency of the European Central Bankś monetary policy affects the amount of trust that the … Commissionś Eurobarometer survey from 2000-2011 and estimate probit regressions with sample selection. We find that transparency … exerts a non-linear effect on trust. Transparency increases trust, but only up to a certain point; too much transparency …