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Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
CESifo Working Paper No. 2584
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
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.
Schlagwörter: 
Transparency
monetary policy
central bank communication
monetary policy frameworks
JEL: 
E42
E58
Dokumentart: 
Working Paper
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