Comment: Transparency and institutions

One of the most striking transformations in central banking over the last twenty years has been the idea that central banks should be transparent in their conduct of policy. While it is fair to say that the benefits of transparency have become "conventional wisdom", questions remain regarding the limits to, and even the possible costs of, too much transparency.

COMMENT BY CENTRALBANKNEWS

Mervyn King tells how soon after joining the Bank of England in 1991 he met Paul Volker for the first time and

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