Quarterly Journal of Austrian Economics

Facebook icon
LinkedIn icon
Twitter icon
A
A
Home | Mises Library | Transparency or Deception: What the Fed Was Saying in 2007

Transparency or Deception: What the Fed Was Saying in 2007

  • QJAE_20141027_0_0.jpg
0 Views

Tags The FedMonetary TheoryMoney and Banking

06/15/2016Mark Thornton

Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 65–84

ABSTRACT: Central banks have embarked on a transition from relative secrecy to relative transparency over the last two decades. This has led researchers to investigate the ramifications of transparency on important economic outcomes. By and large, the results reported have been favorable, favorable with qualifications, or ambiguous. This paper examines the communications of officials from the Federal Reserve during 2007, the year between the end of the housing bubble and the beginning of the financial crisis. In contrast to previous findings, these communications are indicative of either deception, incompetence, or a combination of both.

KEYWORDS: Federal Reserve, transparency, monetary policy, policy objectives and coordination
JEL CLASSIFICATION: E52, E58, E61, E65, Z18

Cite This Article

Thornton, Mark, "Transparency or Deception: What the Fed Was Saying in 2007," Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 65–84

When commenting, please post a concise, civil, and informative comment. Full comment policy here.
Shield icon interview