Does it Pay to be Transparent? International Evidence from Central Bank Forecasts

222 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Fed Speak on Main Street (2016, unknown): “Transparency appears to be associated with macroeconomic benefits, including lower inflation ( Chortareas et al., 2002; Geraats, 2009 ).”
Transparency of Monetary Policy: Theory and Practice (2006, methodology): “There is indeed econometric evidence that supports this (Chortareas et al. 2002, 2003).”
Central Bank Structure, Policy Efficiency, and Macroeconomic Performance: Exploring Empirical Relationships (2002, background): “…is basically indistinguishable from the correlation between average log inflation and the alternative (Guttman) index of transparency reported in Chortareas, Stasavage, and Sterne (2002).12 Finally, we find that the correlation between the index of credibility and the three outcome measures is…”
How Transparent are Central Banks (2006, methodology): “For instance, using cross-section data for 87 countries, Chortareas, Stasavage, and Sterne (2002) find that greater transparency about forward looking analysis is associated with lower average inflation, even after controlling for macroeconomic and institutional characteristics such as central bank…”