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Title:Trends in monetary policy transparency PDF Logo
Authors:Geraats, Petra Maria
Issue Date:2009
Series/Report no.:CESifo working paper 2584
Abstract:Transparency has become a prominent feature of monetary policy. This paper provides an overview of central bank communication practices and is the first to systematically analyze transparency trends throughout the world and across monetary policy frameworks. It shows that increases in information disclosure have not been confined to inflation targeting but extend to other monetary policy frameworks, although there are significant differences. In addition, countries with higher inflation and economic development have undergone larger increases in transparency. Moreover, it shows that greater transparency has been followed by lower average inflation.
Subjects:Transparency
monetary policy
central bank communication
monetary policy frameworks
JEL:E42
E58
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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