Which Aspects of Central Bank Transparency Matter? Ask the forecasters

There is no consensus in the literature with regard to how the overall degree of central bank transparency should be measured and how transparency influences the level of uncertainty in the economy. The lack of consensus among researchers is paired with debates among policymakers on the best practice of central bank communication. For instance, one hot issue of these debates from the recent past is whether it is preferred to publish minutes of the Governing Council meetings of the ECB, or not. This column reviews some recent empirical results on the general topic of central bank transparency.

NASZODI Anna;  ERHART Szilard;  CSAVAS Csaba;  FELCSER Daniel; 

2017-02-13

Centre for Economic Policy Research (CEPR)

JRC104990

http://voxeu.org/article/evidence-which-aspects-central-bank-transparency-matter,    https://publications.jrc.ec.europa.eu/repository/handle/JRC104990,