The Economic Impact of Central Bank Transparency: A Survey

C.A.B. van der Cruijsen, S.C.W. Eijffinger

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Abstract

We provide an up-to-date overview of the literature on the desirabil- ity of central bank transparency from an economic viewpoint. Since the move towards more transparency, a lot of research on its e¤ects 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: -the empirical research resolves all theoretical question marks, -how the ndings of the literature match the actual practice of central banks, and -where there is scope for more research.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages43
Volume2007-06
Publication statusPublished - 2007

Publication series

NameCentER Discussion Paper
Volume2007-06

Keywords

  • Central Bank Transparency
  • Monetary Policy
  • Survey

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    van der Cruijsen, C. A. B., & Eijffinger, S. C. W. (2007). The Economic Impact of Central Bank Transparency: A Survey. (CentER Discussion Paper; Vol. 2007-06). Macroeconomics.