Transparency and Monetary Policy: What Does the Academic Literature Tell Policymakers?

18 Pages Posted: 25 Sep 2004

See all articles by Seth B. Carpenter

Seth B. Carpenter

Federal Reserve Board - Department of Monetary Affairs

Date Written: April 2004

Abstract

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

Carpenter, Seth B., Transparency and Monetary Policy: What Does the Academic Literature Tell Policymakers? (April 2004). FEDS Discussion Paper No. 2004-35. Available at SSRN: https://ssrn.com/abstract=594842 or http://dx.doi.org/10.2139/ssrn.594842

Seth B. Carpenter (Contact Author)

Federal Reserve Board - Department of Monetary Affairs ( email )

20th and C Streets, NW
Mailstop 60
Washington, DC 20551
United States
202-452-2385 (Phone)
202-452-2301 (Fax)

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