Język Polski
English
Published
:
2014-10-30
How to Measure the Transparency of the Inflation Forecasting System
Magdalena Szyszko
Abstract
Modern central banks are independent, transparent, and accountable for their decisions. They also want to be credible. As those features are of a qualitative nature, it is difficult to measure them. Immeasurability of the qualitative backgrounds of monetary policy means that some kinds of research hypotheses may not actually be verified. Those hypotheses assume the existence of the relationships between monetary policy (or the economy) outcomes and the implementation of sound institutional backgrounds. This article focuses on measuring central bank transparency. It presents the degree of the central bank's forecasting system transparency measure. This measure enables the examination of the relationships between the transparency of the forecasting system and the role of inflation forecast in expectation formation.(original abstract)Keywords:
Monetary policy, Inflation, TransparencyMost read articles by the same author(s)
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Szyszko, M. (2014). How to Measure the Transparency of the Inflation Forecasting System. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 56(5). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1106