Trends in Monetary Policy Transparency: Further Updates

Nazire Nergiz Dincer, Barry Eichengreen and Petra Geraats
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Petra Geraats: University of Cambridge

International Journal of Central Banking, 2022, vol. 18, issue 1, 331-348

Abstract: We update our earlier index of monetary policy transparency, providing new estimates of political, economic, procedural, policy, and operational transparency for 112 central banks from 1998 through 2019. Central banks continue to move in the direction of greater transparency in their conduct of monetary policy. This is true for countries of different income levels. It is true regardless of monetary policy strategy, be this inflation targeting, monetary aggregate targeting, or exchange rate targeting, although the trend is least evident for the last of the three. This movement is also evident, to an extent, across all five of the dimensions of monetary policy transparency that we consider when constructing our aggregate index.

JEL-codes: E5 E52 E58 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (21)

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