Central Bank Transparency and Shocks
Journal article: According to the literature, in an expectations-augmented Phillips curve model, opacity is always preferred to transparency on central bank forecasts. By modelling the private sector's behavior explicitly, we show that transparency reduces the shocks. Consequently, transparency can be preferred.
Keywords JEL
Keywords
- Shocks
- Central bank
- Transparency
- Phillips curve
- Shocks
Pages
- 158-160
URL of the HAL notice
Version
- 1
Volume
- 107