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Finance and Economics Discussion Series
Finance and Economics Discussion Series logo links to FEDS home page Transparency and Monetary Policy: What Does the Academic Literature tell Policymakers?
Seth B. Carpenter

Abstract: Transparency in monetary policy has become a popular topic over the past decade. However, the majority of the economic research is theoretical, calling into question its value as a practical guide to monetary policy. This paper surveys the literature to assess what conclusions a central bank can draw from the academic study of transparency and how beneficial transparency may be.

Keywords: Monetary Policy, transparency

Full paper (213 KB PDF)

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Last update: June 8, 2004