2006-03-01
How transparent are central banks?
Publication
Publication
European Journal of Political Economy , Volume 22 - Issue 1 p. 1- 21
Central bank transparency has become the topic of a lively public and academic debate on monetary policy. However, this has been complicated by the fact that transparency is a qualitative concept that is hard to measure. This paper proposes an index for the transparency of monetary policy that comprises the political, economic, procedural, policy and operational aspects of central banking. The index is compiled for nine major central banks. It is based on a detailed analysis of actual information disclosure and reveals a rich variety in the degree and dynamics of central bank transparency.
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| doi.org/10.1016/j.ejpoleco.2005.09.013, hdl.handle.net/1765/73449 | |
| European Journal of Political Economy | |
| Organisation | Erasmus Research Institute of Management |
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Eijffinger, S., & Geraats, P. (2006). How transparent are central banks?. European Journal of Political Economy, 22(1), 1–21. doi:10.1016/j.ejpoleco.2005.09.013 |
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