Evidence of the evolution of ideas on central bank transparency can be found in the central bankersÕ speeches during …: speeches define the historical evolution of central banksÕ discourses, and thus suggest how the concept of transparency has … evolved. The paper invites reconsideration of the role of central banksÕ transparency through analysis of central bankersÕ …

In this paper we investigate central bank accountability by looking at the effect of transparency in a simple monetary … banker's preferences for inflation stabilization relative to output stabilization. Transparency enhances the central bank …'s accountability. The paper shows that transparency leads to a lower expected rate of inflation and less stabilization of supply shocks. …

explore whether central bank cheap talk, policy transparency, both cheap talk and policy transparency or economic transparency …

complements, for which case it has been argued that too much transparency might induce agents to neglect their private knowledge. …

desirable. We show that opacity may lead to the same equilibrium as transparency. However, additional equilibria may emerge … and its effects on inflation and output. In this case, transparency has ambiguous effects. It reduces output variance and … the distortions stemming from heterogeneous information. However, transparency generally raises the variance of inflation …

It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …