Opaque rather than transparent: Why the public cannot monitor monetary policy

Public Choice

Volumn 133, Issue 3-4, 2007, Pages 259-267

  Belongia, Michael T ^a  

^a UNIVERSITY OF MISSISSIPPI   (United States)

Author keywords

Federal Reserve; Monetary policy; Transparency

Indexed keywords

EID: 35648982948     PISSN: 00485829     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11127-007-9227-0     Document Type: Review

References (13)

1. Barnett, W. A., & Serletis, A. (Eds.) (2000). The theory of monetary aggregation. Amsterdam: North-Holland.
2. Belongia, M. T., & Binner, J. A. (Eds.) (2000). Divisia monetary aggregates: Theory and practice. London: Palgrave.
3. Bernanke, B. S. (November 15, 2005). Nomination hearing before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.
4. Blinder, A. S. (2003). Central bank credibility: Why do we care? How do we build it?. American Economic Review, 93, 1421-1431.
5. Carpenter, S. B. (April 2004). Transparency and monetary policy: What does the academic literature tell policymakers? Division of Monetary Affairs, Board of Governors of the Federal Reserve System.
6. Cukierman, A. (2002). Are contemporary central banks transparent about economic models and objectives and what difference does it make? Federal Reserve Bank of St. Louis Review, 84(4), 15-35.
7. Dorsey, R. E. (2000). Neural networks with Divisia money: Better forecasts of future inflation? In M. T. Belongia & J. M. Binner (Eds.), Divisia monetary aggregates: Theory and practice (pp. 28-43). London: Palgrave.
8. Friedman, M., & Schwartz, A. J. (1963). Money and business cycles. Review of Economics and Statistics, 45(1), 32-64.
9. Greenspan, A. (2002). Transparency in monetary policy. Federal Reserve Bank of St. Louis Review, 84(4), 5-6.
10. Kahn, G. A. (2007). Communicating a policy path: The next frontier in central bank transparency? Federal Reserve Bank of Kansas City Economic Review, 87(1), 25-51.
11. Laidler, D. (2004). Monetary policy after bubbles burst: the zero lower bound, the liquidity trap and the credit deadlock. Canadian Public Policy, 30(3), 333-340.
12. Meltzer, A. H. (1991). The Fed at seventy-five. In M. T. Belongia (Ed.), Monetary policy on the 75th anniversary of the Federal Reserve system (pp. 3-65). Amsterdam: Kluwer.
13. Taylor, J. B. (1993). Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy, 39, 195-214.