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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- Svensson, Lars E. O., 1999.
"Monetary policy issues for the Eurosystem,"
Carnegie-Rochester Conference Series on Public Policy,
Elsevier, vol. 51(1), pages 79-136, December.
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- Lars E.O. Svensson, 1999. "Monetary Policy Issues for the Eurosystem," NBER Working Papers 7177, National Bureau of Economic Research, Inc.
- Svensson, L.E.O., 1999. "Monetary Policy Issues for the Eurosystem," Papers 667, Stockholm - International Economic Studies.
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Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 23(3), pages 483-503, August.
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