On the negative social value of central banks' knowledge transparency
We examine to what extent central banks should release their internal assessments concerning the links between money growth and future inflation, and between employment and inflation. We show that the social value of knowledge transparency concerning real shocks is negative since the disclosure of the central bank's private information eliminates the possibility of insuring the public against those shocks. Finally, we discuss a number of further arguments which have to be taken into account before policy conclusions can be drawn. Copyright Springer-Verlag Berlin Heidelberg 2003
Volume (Year): 4 (2003)
Issue (Month): 2 (08)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/journal/10101/PS2|
When requesting a correction, please mention this item's handle: RePEc:spr:ecogov:v:4:y:2003:i:2:p:91-102. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.