Measuring monetary policy transparency in Uruguay

Cecilia Dassatti () and Gerardo Licandro
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Cecilia Dassatti: Banco Central del Uruguay

No 2021003, Documentos de trabajo from Banco Central del Uruguay

Abstract: The adoption of inflation targeting regimes has led central banks to devote considerable efforts to improve their transparency. Following this trend, several authors have developed tools to measure and compare the levels of transparency of central banks. This paper seeks to carry out this task for the Central Bank of Uruguay applying two different transparency indices. The first one was designed in the mid 2000s and has been applied in a sample with a significant number of countries. The second index is based on a new approach that seeks to reflect the best practices of the most advanced inflation-forecast targeting regimes.

Keywords: monetary policy; central bank; transparency (search for similar items in EconPapers)
JEL-codes: E0 E4 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2021
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:bku:doctra:2021003

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