tag:blogger.com,1999:blog-2546602206734889307.post5610286618636286237..comments2024-03-29T12:16:15.785+00:00Comments on mainly macro: Disengagement at the Bank of England?Mainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2546602206734889307.post-80488268248206759492012-11-06T20:46:05.132+00:002012-11-06T20:46:05.132+00:00Damend good point!
Given that changes to the mone...Damend good point!<br /><br />Given that changes to the monetary policy regime were partially about transparency, given the importance of expectations, and given that inflation targeting is forward looking (set by the model) it seems self evident that a central bank HAS to transparent about its model. Not just that, but the transparency is required to ensure that the democratically elected government can evaluate whether the central bank is "meeting its mandate".<br /><br />And yet making the model and assumptions transparent, this is something that almost all central banks have turned away from outside from "broad principles".Matt Nolanhttps://www.blogger.com/profile/05615455113796090765noreply@blogger.com