Open AccessPosted Content
Does It Pay to Be Transparent? International Evidence from Central Bank Forecasts / Commentary
201
About: This article is published in Canadian Parliamentary Review. The article was published on 01 Jul 2002. and is currently open access. The article focuses on the topics: Bank rate & Official cash rate.
read more
Chat with Paper
AI Agents for this Paper
Find similar papers on Google Scholar, PubMed and Arxiv
Write a critical review of this paper
Analyze citations of this paper to find unaddressed research gaps
Citations
Central Bank Transparency
TL;DR: In this paper, the authors provide a structured review of the theoretical literature on the consequences of transparency of monetary policy, proposing a distinction between uncertainty and incentive effects of transparency, compared to the various ways in which central banks have become transparent in practice.
767
The Evolution of Central Bank Governance around the World
Christopher Crowe,Ellen E. Meade +1 more
TL;DR: In this article, the authors survey and quantify the trends in two major areas of central bank governance: independence and transparency, and discuss the effects of these aspects of governance on inflation.
366
Central Bank Independence and Transparency: Evolution and Effectiveness
Ellen E. Meade,Christopher Crowe +1 more
TL;DR: In this paper, the authors examined the current level of central bank independence and transparency in a broad sample of countries using newly constructed measures, and looked at the evolution in both measures from an earlier time period.
Central Bank Structure, Policy Efficiency, and Macroeconomic Performance: Exploring Empirical Relationships
TL;DR: The importance of monetary policy transparency has been emphasized by the authors of the Code of Good Practices on Transparency in Monetary and Financial Policies: Declaration and Principles (which they refer to as the IMF Code).
Is the MPC's Voting Record Informative about Future UK Monetary Policy?
TL;DR: In this article, it was shown that the voting record of the Monetary Policy Committee of the Bank of England helps predict future policy rate changes, which is robust to the inclusion of market participants' expectations as measured by the slope of the term structure of money market rates and interest rate futures.
192
References
•Posted Content
Which kind of transparency? On the need for clarity in monetary policy-making
TL;DR: In this article, a conceptual framework is proposed to distinguish different aspects of transparency in monetary policy, and it is shown that when there are frictions in communication or imperfections in the processing of information, greater "openness" (i.e., more information) need not always enhance the "clarity" of central bank communication.
Transparency, reputation, and credibility under floating and pegged exchange rates
TL;DR: In this paper, the authors show that the equilibrium nominal exchange rate regime for a country with a credibility problem is a peg, under which credibility is higher and inflation is lower than under a float.
•Posted Content
Alice in Euroland
TL;DR: In this article, the authors present a detailed critique of the common currency arrangements of the Economic and Monetary Union, embodied in the laws and emerging procedural arrangements that govern the actions of its key institutions: the European Central Bank and the European System of Central Banks.
•Posted Content
Cheap Talk and the Fed: A Theory of Imprecise Policy Announcments
TL;DR: In this article, the authors examine the problem faced by the Federal Reserve in announcing its private information about its future policies, and show that the Fed cannot reveal its policy objectives precisely and credibly.
•Book
Adopting Inflation Targeting: Practical Issues for Emerging Market Countries
Mark Zelmer,Andrea Schaechter +1 more
- 01 Dec 2000
TL;DR: In this article, the authors describe the trade-offs raised in the formulation of an inflation targeting framework and states the approaches to these trade-off used by inflation targeting countries, including emerging market central banks.