Central Bank Accountability and Transparency: Theory and Some Evidence
نویسندگان
چکیده
منابع مشابه
Central Bank Transparency and Monetary Policy Effectiveness
The paper concentrates on the conditions, contingencies and determinants of central bank transparency and communication. From the state of the economy and the quality of national institutions, to the structure of monetary policy committees, the personality of the governor and the nature of the monetary policy framework - with a particular focus on the case of inflation targeting, there i...
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Central bank communication plays an important role in shaping market participants’ expectations. This paper studies a simple nonlinear model of monetary policy in which agents have incomplete information about the economic environment. It shows that agents’ learning and the dynamics of the economy are heavily affected by central bank transparency about its policy rule. A central bank that does ...
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New monetary literatures widely concentrates on the importance of institutional arrangements in the effectiveness of monetary policy. The debate regarding the optimal institutional design of central banks, independence and conservatism are usually considered to be the most important ingredients for a stable and successful monetary policy. Therefore, the purpose of this study is to deal with the...
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____________________ 1 I am grateful to Alex Cukierman for his guidance. I also wish to thank Nissan Liviatan, participants at the Bank of Israel Seminar and participants at the TAU macroeconomics workshop for their helpful comments. Any views expressed in the Discussion Paper Series are those of the authors and do not necessarily reflect those of the Bank of Israel.
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ژورنال
عنوان ژورنال: International Finance
سال: 2002
ISSN: 1367-0271,1468-2362
DOI: 10.1111/1468-2362.00088