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Persistent link: https://www.econbiz.de/10010468602
The central banking literature regards central bank independence and a transparent monetary policy as best suited to achieve and safeguard monetary stability. The existing empirical literature, however, failed in establishing a solid ground for this consensus. This paper sheds some new light on...
Persistent link: https://www.econbiz.de/10010327321
The central banking literature regards central bank independence and a transparent monetary policy as best suited to achieve and safeguard monetary stability. The existing empirical literature, however, failed in establishing a solid ground for this consensus. This paper sheds some new light on...
Persistent link: https://www.econbiz.de/10010206377
respect to transparency. Previous literature has argued that domestic factors such as macroeconomic stability were behind the … trend toward greater transparency. In contrast, our results indicate that transparency primarily increased because of a … from each other's experiences regarding transparency. To our knowledge, our paper is the first econometric analysis of peer …
Persistent link: https://www.econbiz.de/10012256102
: 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 …
Persistent link: https://www.econbiz.de/10010295694
We develop a comprehensive index of the transparency of central banks regarding their policy framework to promote … financial stability for 110 countries from 2000 to 2011 and examine the determinants and effects of this transparency. We find … that the degree of transparency increased in the 2000s, though it still varied greatly across the countries in our study …
Persistent link: https://www.econbiz.de/10011345516
We develop a comprehensive index of the transparency of central banks regarding their policy framework to promote … financial stability for 110 countries from 2000 to 2011 and examine the determinants and effects of this transparency. We find … that the degree of transparency increased in the 2000s, though it still varied greatly across the countries in our study …
Persistent link: https://www.econbiz.de/10010322299
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 …
Persistent link: https://www.econbiz.de/10010333377
We investigate the role of economic transparency within the framework of one of Townsend’s models of ‘forecasting the …
Persistent link: https://www.econbiz.de/10011604501
respect to transparency. Previous literature has argued that domestic factors such as macroeconomic stability were behind the … trend toward greater transparency. In contrast, our results indicate that transparency primarily increased because of a … from each other's experiences regarding transparency. To our knowledge, our paper is the first econometric analysis of peer …
Persistent link: https://www.econbiz.de/10012389283