Jump to ContentJump to Main Navigation
The Quiet RevolutionCentral Banking Goes Modern$
Users without a subscription are not able to see the full content.

Alan Blinder

Print publication date: 2004

Print ISBN-13: 9780300100877

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300100877.001.0001

Show Summary Details
Page of

PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 14 April 2021

Through the Looking Glass: Central Bank Transparency

Through the Looking Glass: Central Bank Transparency

Chapter:
(p.5) Chapter 1 Through the Looking Glass: Central Bank Transparency
Source:
The Quiet Revolution
Author(s):

Alan S. Blinder

Publisher:
Yale University Press
DOI:10.12987/yale/9780300100877.003.0005

This chapter focuses on transparency, the aspect of central banking in which change has probably been the most visible and dramatic over the past decade. To apply the general definition of transparency to the specific context of monetary policy, it sketches a series of increasingly stringent transparency standards that a truly modern central bank might think of meeting. The chapter discusses how the easiest transparency standard is clarity. The second standard of transparency goes beyond clarity to substantive content. A central bank that is transparent by this more meaningful standard must convey pertinent information about the economy and monetary policy to those who care enough to listen. The chapter discusses how the third standard of transparency raises the bar higher than mere substantive content, and how, to clear this third hurdle, the central bank must leave itself open to public scrutiny.

Keywords:   transparency, central banking, central bank, monetary policy, democratic accountability

Yale Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.