Transparency of monetary policy : theory and practice

Arbeitspapier

Transparency has become one of the main features of monetary policymaking during the last decade. This paper establishes some stylized facts. In addition, it provides a systematic overview of the practice of monetary policy transparency around the world. It shows much diversity in information disclosure, even for central banks with the same monetary policy framework, including inflation targeting. Nevertheless, the paper finds significant differences in transparency across monetary policy frameworks. The empirical findings are explained using key insights distilled from the theoretical literature. Thus, this paper aims to bridge the gap between the theory and practice of monetary policy transparency.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 1597

Classification and Topics

• Classification: Wirtschaft ; Central Banks and Their Policies ; Asymmetric and Private Information; Mechanism Design
• Subject: transparency ; monetary policy ; central bank communication ; Geldpolitik ; Zentralbank ; Kommunikation ; Staatliche Information ; Welt

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Geraats, Petra Maria
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2005

Further information

• Handle: http://hdl.handle.net/10419/19061
• Last update: 10.03.2025, 11:43 AM CET