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Uncertainty and Transparency of Monetary Policy

In: Financial Institutions and Markets

Author

Listed:
  • Giorgio Giorgio

    (Università LUISS)

  • Guido Traficante

    (Università LUISS)

Abstract

What is the proper degree of central bank transparency? This chapter investigates the issue in a framework characterized by (a) common uncertainty on potential output and (b) imperfect knowledge of the central bank target by the private sector. We show that full transparency is socially beneficial under a variety of parametrizations. Our results confirm, in a different setup, those of Faust and Svensson (2001, 2002), and Svensson (2006).

Suggested Citation

  • Giorgio Giorgio & Guido Traficante, 2010. "Uncertainty and Transparency of Monetary Policy," Palgrave Macmillan Books, in: Robert R. Bliss & George G. Kaufman (ed.), Financial Institutions and Markets, chapter 8, pages 187-203, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-11736-5_8
    DOI: 10.1057/9780230117365_8
    as

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