Transparency, Flexibility, and Inflation Targeting

Carl Walsh ()

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: Inflation targeting central banks have been at the forefront of the movement for greater transparency. In this paper, I explore two dimensions of transparency that are typically ignored in this literature — the quality of the information the central bank provides and how widely it publicizes its information. I show how the quality of the central bank’s forecasts and how widely these forecasts are disseminated can affect the central bank’s policy goals.

Date: 2006-12
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Persistent link: http://EconPapers.repec.org/RePEc:chb:bcchwp:401

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