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- Title
Transparency in Monetary Policy.
- Authors
Neumann, Manfred J. M.
- Abstract
The paper examines different aspects of transparency. Transparency serves democratic accountability by promoting public control. Specifically, the degree of transparency conditions inflation expectations, hence the central bank's scope for stabilization. Recent studies have put doubt on the notion that complete transparency is socially desirable. Here it is pointed out that the conclusion critically depends on an asymmetric modelling of stochastic preferences. The paper also reviews the pros and cons of revealing individual voting. A conclusion is that secrecy is to be prefered in monetary unions in order to shield governor's from pressure by home governments.; Atlantic Econ. J., 30(4): pp. 353-64, Dec. 02. © All Rights Reserved
- Subjects
TRANSPARENCY in government; MONETARY policy; PRICE regulation; ECONOMICS
- Publication
Atlantic Economic Journal, 2002, Vol 30, Issue 4, p353
- ISSN
0197-4254
- Publication type
Article
- DOI
10.1007/BF02298778