The Role of Transparency in the Conduct of Monetary Policy
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The work The Role of Transparency in the Conduct of Monetary Policy represents a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries. This resource is a combination of several types including: Work, Language Material, Books.
The Resource
The Role of Transparency in the Conduct of Monetary Policy
Resource Information
The work The Role of Transparency in the Conduct of Monetary Policy represents a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries. This resource is a combination of several types including: Work, Language Material, Books.
- Label
- The Role of Transparency in the Conduct of Monetary Policy
- Statement of responsibility
- Makoto Minegishi and Boris Cournède
- 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
- Cataloging source
- FR-PaOEC
- Government publication
- international or intergovernmental publication
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
- dictionaries
- Series statement
- OECD Economics Department Working Papers,
- Series volume
- no.724
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