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Transparency: Bacen versus Bank of England

Author

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  • Eduardo de Carvalho Andrade

Abstract

The aim of this paper is to compare the degree of transparency of the Brazilian Central Bank (Bacen) with the one verified in the Bank of England (BoE). In order to accomplish this objective, an indicator of transparency is built based on the information that each central bank provides to the public about its monetary policy, its expectation about the future of the economy, its intervention in the financial market, and if there are clear limits and restrictions to the release of information to the general public. The analysis suggests that the Bacen is less transparent and has a less individualistic Monetary Policy Committee in comparison with the BoE. Moreover, it indicates some procedures that could be adopted by the Bacen in order to make its monetary policy more transparent. JEL Classification: E0, E5.

Suggested Citation

  • Eduardo de Carvalho Andrade, 2005. "Transparency: Bacen versus Bank of England," Brazilian Journal of Political Economy, Center of Political Economy, vol. 25(4), pages 357-369.
    • Handle: RePEc:ekm:repojs:v:25:y:2005:i:4:p:357-369:id:647
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/647/644
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    More about this item

    Keywords

    Central Bank Transparency; Brazilian Central Bank; Bank of England;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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