Monetary mystique: Secrecy and central banking
AbstractThe paper contains a theoretical discussion of the role of secrecy in the implementation of monetary policy. It documents the Federal Reserve's defense of secrecy as argued in a recent Freedom of Information Act suit. The Federal Reserve's arguments are evaluated on the basis of economic theory. Theoretical papers related to the secrecy issue are reviewed. The discussion highlights a number of potential benefits and costs of central banking secrecy, and identifies some conditions under which secrecy could be socially beneficial.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Monetary Economics.
Volume (Year): 17 (1986)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/505566
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- 'A Century of U.S. Central Banking: Goals, Frameworks, Accountability'
by Mark Thoma in Economist's View on 2013-07-10 13:48:26
- The Mystique of the Clique
by Agent Continuum in Agent Continuum on 2010-01-11 16:56:29
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