Central Bank transparency: an analysis of the Brazilian case

Helder de Mendonça () and Adriana Inhudes ()

Brazilian Journal of Political Economy, 2010, vol. 30, issue 1, 159-177

Abstract: Nowadays there is a tendency among central banks of increasing transparency in the conduction of the monetary policy. After the adoption of inflation targeting in Brazil there was an increase in the communication of the Central Bank of Brazil with the public. This paper makes a brief review of the recent theoretical and empirical literature concerning this subject. Furthermore, an analysis due to the transparency in the conduction of Brazilian monetary policy on important macroeconomic variables is made. The findings denote that an increase in transparency improves the behavior of several macroeconomic variables. JEL classification: E52, E43.

Keywords: transparency; monetary policy; inflation targeting (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:30:y:2010:i:1:p:159-177:id:436

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