On the negative social value of central banks' knowledge transparency

被引：2

作者：

Hans Gersbach

机构：

[1] Alfred-Weber-Institut, University of Heidelberg, 69117 Heidelberg

来源：

Economics of Governance | 2003年 / 4卷 / 2期

关键词：

Central banks; Credibility; Disclosure rules; Transparency;

D O I：

10.1007/s101010200058

中图分类号：

学科分类号：

摘要：

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.

引用

页码：91 / 102

页数：11

共 37 条

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