The Economic Impact of Central Bank Transparency: A Survey

Sylvester Eijffinger () and Carin van der Cruijsen

No 6070, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We provide an up-to-date overview of the literature on the desirability of central bank transparency from an economic viewpoint. Since the move towards more transparency, a lot of research on its effects has been carried out. First, we show how the theoretical literature has evolved, by looking into branches inspired by Cukierman and Meltzer (1986) and by investigating several, more recent, research strands (e.g. coordination and learning). Then, we summarize the empirical literature which has been growing more recently. Last, we discuss whether: i) the empirical research resolves all theoretical question marks, ii) how the findings of the literature match the actual practice of central banks, and iii) where there is scope for more research.

Keywords: central bank transparency; monetary policy; survey (search for similar items in EconPapers)
JEL-codes: E31 E52 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
Date: 2007-01
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Related works:
Working Paper: The Economic Impact of Central Bank Transparency: A Survey (2007)
Working Paper: The economic impact of central bank transparency: a survey (2007)
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