Arbeitspapier
Optimal Degrees of Tranaparency in Monetary Policymaking.
According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this proposition in a small theoretical model emphasizing forward-looking private sector behavior. Transparency makes it easier for price setters to infer the central bank's future policy intentions, thereby making current inflation more responsive to policy actions. This induces the central bank to pay more attention to inflation rather than output gap stabilization. Then, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low-inflation credibility, and there is need for active monetary stabilization policy.
- Language
-
Englisch
- Bibliographic citation
-
Series: EPRU Working Paper Series ; No. 2001-01
- Classification
-
Wirtschaft
- Event
-
Geistige Schöpfung
- (who)
-
Jensen, Henrik
- Event
-
Veröffentlichung
- (who)
-
University of Copenhagen, Economic Policy Research Unit (EPRU)
- (where)
-
Copenhagen
- (when)
-
2001
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Jensen, Henrik
- University of Copenhagen, Economic Policy Research Unit (EPRU)
Time of origin
- 2001
Other Objects (12)
Optimal degrees of transparency in monetary policymaking
Optimal Conservatism and Collective Monetary Policymaking under Uncertainty
Simple Monetary Policymaking Without the Output Gap
Insiders versus Outsiders in Monetary Policy-Making
Integrating uncertainty and monetary policy-making: A practitioner's perspective
Robustness in monetary policymaking: a case for the Friedman rule
Is Optimal Monetary Policy Always Optimal?
Is optimal monetary policy always optimal?
Minsky, monetary policy, and mint street: Challenges for the art of monetary policymaking in emerging economies
Optimal monetary policy inertia
Which kind of transparency? On the need for clarity in monetary policy-making
The optimal stability-oriented monetary policy: Optimal monetary policy under low trend inflation
Optimal degrees of transparency in monetary policymaking
Optimal Conservatism and Collective Monetary Policymaking under Uncertainty
Simple Monetary Policymaking Without the Output Gap
Insiders versus Outsiders in Monetary Policy-Making
Integrating uncertainty and monetary policy-making: A practitioner's perspective
Robustness in monetary policymaking: a case for the Friedman rule
Is Optimal Monetary Policy Always Optimal?
Is optimal monetary policy always optimal?
Minsky, monetary policy, and mint street: Challenges for the art of monetary policymaking in emerging economies
Optimal monetary policy inertia
Which kind of transparency? On the need for clarity in monetary policy-making
The optimal stability-oriented monetary policy: Optimal monetary policy under low trend inflation
Optimal degrees of transparency in monetary policymaking
Optimal Conservatism and Collective Monetary Policymaking under Uncertainty
Simple Monetary Policymaking Without the Output Gap
Insiders versus Outsiders in Monetary Policy-Making
Integrating uncertainty and monetary policy-making: A practitioner's perspective
Robustness in monetary policymaking: a case for the Friedman rule
Is Optimal Monetary Policy Always Optimal?
Is optimal monetary policy always optimal?
Minsky, monetary policy, and mint street: Challenges for the art of monetary policymaking in emerging economies
Optimal monetary policy inertia
Which kind of transparency? On the need for clarity in monetary policy-making