CENTRAL BANKS AND INFORMATION PROVIDED TO THE PRIVATE SECTOR

Giovanni Di Bartolomeo () and Enrico Marchetti ()

No 61, Working Papers from Sapienza University of Rome, Department of Public Economics

Abstract: This paper examines the information provided to the private sector by central banks. By using the principal component analysis, we investigated the variance of the procedural rules followed by nine major central banks about information treatments. We investigate problems related to the information coming from the central banks by focusing on the quantity and quality perspectives and highlight the methodological complexity of the investigation. We find that a synthetic quantitative index of transparency is not enough to represent the phenomenon since it can result misleading in understanding the behavior of institutionally different central banks associated with the same index values.

Keywords: Central bank transparency; principal components; monetary policy. (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2003-10
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http://dep.eco.uniroma1.it/docs/working_papers/WP61.pdf 2003 (application/pdf)

Related works:
Working Paper: Central Banks and Information Provided to the Private Sector (2003)
Working Paper: Central banks and information provided to the private sector (2005)
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Persistent link: http://EconPapers.repec.org/RePEc:sap:wpaper:61

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