• Economics
  • Published 2000

Which Kind of Transparency? On the Need for Clarity in Monetary Policy-Making

@inproceedings{Winkler2000WhichKO,
  title={Which Kind of Transparency? On the Need for Clarity in Monetary Policy-Making},
  author={Bernhard Winkler},
  year={2000}
}
In most of the existing academic literature the notion of transparency in monetary policy is defined in too simple terms to be of practical relevance. This paper suggests a conceptual framework, which distinguishes different - and potentially conflicting - aspects of transparency. When there are frictions in communication or imperfections in the processing of information, greater 'openness' (i.e. more information) need not always enhance the 'clarity' of central bank communication. In this… CONTINUE READING

Citations

Publications citing this paper.
SHOWING 1-10 OF 80 CITATIONS

FILTER CITATIONS BY YEAR

2000
2018

CITATION STATISTICS

  • 3 Highly Influenced Citations

References

Publications referenced by this paper.
SHOWING 1-10 OF 96 REFERENCES

10 “On the effectiveness of sterilized foreign exchange intervention” by

  • 10 “On the effectiveness of sterilized foreign exchange intervention” by
  • 2000

12 “Indicator variables for optimal policy” by

  • 12 “Indicator variables for optimal policy” by
  • 2000

13 “Monetary policy with uncertain parameters” by U. Söderström

  • 13 “Monetary policy with uncertain parameters” by U. Söderström
  • 2000

15 “The quest for prosperity without inflation” by Athanasios Orphanides

  • 15 “The quest for prosperity without inflation” by Athanasios Orphanides
  • 2000

24 “What horizon for price stability” by F. Smets

  • 24 “What horizon for price stability” by F. Smets
  • 2000

25 “Caution and conservatism in the making of monetary policy” by P. Schellekens, July 2000. 26 “Which kind of transparency? On the need for clarity in monetary policy-making” by

  • 25 “Caution and conservatism in the making of monetary policy” by P. Schellekens, July 2000. 26 “Which kind of transparency? On the need for clarity in monetary policy-making” by
  • 2000