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July/August 2002, 
Vol. 84, No. 4
Posted 2002-07-01

Does It Pay To Be Transparent? International Evidence Form Central Bank Forecasts

by Gabriel Sterne, David Stasavage, and Georgios Chortareas

This article examines how monetary policy transparency is associated with inflation and output in a cross section of 87 countries. The authors use a particular concept of transparency that relates to the detail in which central banks publish economic forecasts.