Economic transparency and poverty
Nowadays, with the diffusion of inflation targeting, the main instrument that central banks use to achieve final objectives in the implementation of monetary policy (concerning inflation and unemployment) is the interest rate. Furthermore, recent studies point out that central bank transparency contributes to reducing asymmetric information and price stability. As inflation, unemployment and interest rates are determinants of the level of poverty, the central bank's behaviour is relevant to its reduction. Accordingly, the present paper highlights the connection betweeneconomic transparency and poverty. The theoretical and empirical results denote that central bank transparency is a useful strategy in reducing income inequality andpoverty.
References listed on IDEAS
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- Thomas F. Cooley & Gary D. Hansen, 1991.
"The welfare costs of moderate inflations,"
Federal Reserve Bank of Cleveland, pages 483-518.
- Lars E. O. Svensson, 1999.
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Federal Reserve Bank of San Francisco, pages -.
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- Helder Ferreira de Mendonca, 2007. "Empirical evidence from fourteen countries with explicit inflation targeting," Applied Economics Letters, Taylor & Francis Journals, vol. 14(8), pages 573-576.
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