Faust, Jon; Henderson, Dale W. - Federal Reserve Board (Board of Governors of the … - 2004
-policy paradigm. In this paradigm, the central bank has an objective function that places weight on both inflation and output … contradict the dictates of optimization in a stabilization-policy paradigm. In this
paradigm, the central bank has an objective … bank transparency can make policy more effective.
NotonlyareITFcentralbanksamongthemosttransparentintheworld …