disentangling the impact of independence and transparency on democracy. To this end, we regress democracy on both CBI and CB … CBI is conducive to democracy. However, this relationship is dependent on the level of CB transparency, where high levels … of transparency could reverse this positive relation and make CBI an obstacle in face of democracy. Furthermore, CB …

The last decades have shown a tendency towards higher central bank transparency. It became customary for central … question of how central bank transparency is entangled with price stability and inflation volatility. A plethora of studies … transparency leads to lower inflation, others concluded that openness of central banks results in higher prices. Conversely, there …

country- and variable-specific effects of central bank transparency on forecast accuracy and their dispersion among a large …