Keywords: Monetary Policy, transparency
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.
Full paper (213 KB PDF)
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Last update: June 8, 2004