Transparency and Monetary Policy: What Does the Academic Literature Tell Policymakers?
18 Pages Posted: 25 Sep 2004
Date Written: April 2004
Transparency in monetary policy has become a popular topic over the past decade. However, the majority of the economic research is theoretical, calling into question its value as a practical guide to monetary policy. This paper surveys the literature to assess what conclusions a central bank can draw from the academic study of transparency and how beneficial transparency may be.
Keywords: Monetary Policy, transparency
JEL Classification: E5, E58
Suggested Citation: Suggested Citation