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Measuring monetary policy transparency in Uruguay

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  • Dassatti, Cecilia
  • Licandro, Gerardo

Abstract

The adoption of inflation-targeting regimes has led central banks to devote considerable efforts to improve their transparency. Following this trend, several authors have developed tools to measure and compare the levels of transparency of central banks. This paper undertakes this task for the Central Bank of Uruguay by applying two different transparency indexes. The first one was designed in the mid-2000s and has been applied in a sample with a significant number of countries. The second index is based on a new approach that seeks to reflect the best practices of the most advanced inflation-forecast-targeting regimes.

Suggested Citation

  • Dassatti, Cecilia & Licandro, Gerardo, 2023. "Measuring monetary policy transparency in Uruguay," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(4).
    • Handle: RePEc:eee:lajcba:v:4:y:2023:i:4:s266614382300025x
    DOI: 10.1016/j.latcb.2023.100104
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    References listed on IDEAS

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    More about this item

    Keywords

    Monetary policy; Central bank; Transparency;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates

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