The Resource The Role of Transparency in the Conduct of Monetary Policy, Makoto Minegishi and Boris Cournède, (electronic resource)

The Role of Transparency in the Conduct of Monetary Policy, Makoto Minegishi and Boris Cournède, (electronic resource)

Label
The Role of Transparency in the Conduct of Monetary Policy
Title
The Role of Transparency in the Conduct of Monetary Policy
Statement of responsibility
Makoto Minegishi and Boris Cournède
Creator
Contributor
Subject
Language
eng
Summary
In contrast to the once prevailing norm of secrecy and opaqueness, transparency has now become one of the main features characterising the conduct of monetary policy. Detailed analysis of eleven OECD central banks shows that communication practices have converged markedly in the direction of ever greater transparency. Empirical evidence is consistent with the hypothesis that transparency contributes to the successful conduct of monetary policy: higher transparency is a typical element of monetary frameworks that are associated with better anchored inflation expectations and more stable inflation outcomes. Despite this general trend toward increased transparency, however, central banks differ in actual communication practices. There is a particular divergence with respect to transparency in the decision-making process and communication regarding future policy inclination. Although the appropriate degree of transparency in these areas is an unsettled issue, the fact that financial dislocation is impairing conventional monetary transmission makes these two areas critical for policy implementation
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Minegishi, Makoto
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Cournede, Boris
Series statement
OECD Economics Department Working Papers,
Series volume
no.724
http://library.link/vocab/subjectName
Economics
Label
The Role of Transparency in the Conduct of Monetary Policy, Makoto Minegishi and Boris Cournède, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762083365
Dimensions
21 x 30 cm
Extent
1 online resource 61 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/221128317344
Specific material designation
remote
System control number
(OCoLC)762083365
Label
The Role of Transparency in the Conduct of Monetary Policy, Makoto Minegishi and Boris Cournède, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762083365
Dimensions
21 x 30 cm
Extent
1 online resource 61 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/221128317344
Specific material designation
remote
System control number
(OCoLC)762083365

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