According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this … proposition in a small theoretical model emphasizing forwardlooking private sector behavior. Transparency makes it easier for …, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low …

Bessembinder, Maxwell, and Venkataraman's (2006) information-based channel relating transparency and pricing. During the pre …

: transparency of actual monetary policy and the question of who bears final responsibility for monetary policy. The paper shows that … accountability through transparency leads to a lower expected rate of inflation and less stabilization of supply shocks … der Notenbanken vor. Dabei werden zwei Aspekte der Rechenschaftspflicht in Betracht gezogen: die Transparenz der aktuellen …

two signals depends on the transparency of the country. Greater transparency reduces risk premia. The empirical results … markets are unsure about the true extent of creative accounting. Fiscal transparency reduces risk premia. Instrumental …

members. It investigates the optimal transparency, and the optimal way of transmitting information of committees, by analysing … asymmetric information between the committee and market agents. Transparency about the diversity of views of the committee …

In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the … to meet its liquidity demand. We use quarterly data of bilateral interbank credit exposures between all German banks from …'s willingness to pay for liquidity since they had variable rate tenders with a 'pay-your-bid' price. Controlling for bank …

recourse to the LOLR facility (a) to derive banks' willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks' willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …