Optimal delegation implications of central bank transparency |
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Authors: | Jonathan G. JamesPhillip Lawler |
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Affiliation: | Swansea University, United Kingdom |
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Abstract: | The interrelationship between monetary regime design and central bank transparency is examined. We find optimal delegation requires the central bank be either: ‘representative’, not choosing to publicly reveal its private information; or ‘ultraconservative’, deciding to be fully transparent. |
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Keywords: | E58 J51 |
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