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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP3626 |
DP3626 Does the New Economy Need New Governance? Ownership, Knowledge and Performance | |
David Audretsch; Erik Lehmann | |
发表日期 | 2002-11-20 |
出版年 | 2002 |
语种 | 英语 |
摘要 | We study the effects of Central Bank transparency on inflation and the output gap. We thus first identify a small analytical model, which concludes that transparency affects the variability of inflation and output and not their average levels. Then we examine whether this conjecture holds empirically, employing the recently derived index of transparency by Eijffinger and Geraats. The em-pirical findings confirm that the averages are not affected by transparency. It does seem to explain however, about 50% of the variability in inflation. The relation between transparency and output volatility is less clear but appears to be positive rather than negative. |
主题 | International Macroeconomics |
关键词 | Central bank Economic and political transparency inflation Output gap performance |
URL | https://cepr.org/publications/dp3626 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532635 |
推荐引用方式 GB/T 7714 | David Audretsch,Erik Lehmann. DP3626 Does the New Economy Need New Governance? Ownership, Knowledge and Performance. 2002. |
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