externality: if speculators refrain from trading, hedgers do the same, depressing the asset price. Market transparency reinforces … disclosure of fundamentals and trading transparency. Issuers may either under- or over-provide information compared to the …

' unease when disseminating news to the markets and argues against the recent trend of demanding full transparency both for …

provide guidance for improving transparency while maintaining trader confidentiality. In addition, we analyze liquidity in the …

For some time now the buzzword 'transparency' has been bandied about in the media almost daily. For example, calls were … made for greater transparency in the financial system in connection with developments in the Asian financial markets. But … the call for greater transparency goes far beyond the financial markets. It is now regarded as a necessary part of good …

‘transparency’ characteristics, therefore the Bank of England should do better than both the Bundesbank and ECB. However, studies … from transparency should also show in a narrowing of the diversity in cross sectional forecasts, this paper extends the … existing literature in an attempt to reconcile the contradictory evidence on ‘transparency’ of both banks. We show that the …

‘transparency’ our argument is slightly different, though we come to a similar conclusion. Unlike independence, ‘transparency’ does … address a real problem for central banks. However, the evidence suggests that transparency is not the only, or even the best …

‘transparency’ characteristics, therefore the Bank of England should do better than the Bundesbank/ECB. We show that this is not … confirmed by agents’ ability to anticipate central bank decisions. Furthermore, benefits from transparency should also show in a … under the Bundesbank/ECB than the Bank of England. This suggests that other factors than ‘transparency’ may affect interest …

There is a widespread belief that the transparency of UK monetary policy has increased substantially as a result of the … of agents’ anticipation. If the benefit of transparency is the elimination of policy surprise, there is little benefit if …

unanimity of money market rates. Rising forecasting uncertainty may either be due to a lack of ECB transparency or to larger …