Finance and Economics Discussion Series (FEDS)
June 2004
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
PDF: Full Paper
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