货币政策透明度的基础理论分析

货币政策透明度是中央银行的政策性私人信息披露,它与信息对称或确定性相对应。如果着眼于货币政策交流问题,它可以划分为狭义与广义两种。货币政策信息不对称有两个源泉,一是中央银行的偏好不可观测;一是中央银行拥有信息优势。总体上,货币政策透明度包括目标透明度、知识透明度和决策透明度三类。

The transparency of monetary policy is the release of private information relative to central ~bank's policy and corresponds to information symmetry or certainty. In view of monetary policy communication issues, the transparency has narrow and broad senses. Information asymmetry in monetary policy has two sources: one is that central ~bank's preference is unobservable; the other is that central bank has information superiority. Overall, the transparency of monetary policy includes goal, knowledge and decision transparency.