Central bank transparency has become a key feature of monetary policy. The goal of my research was to provide a deeper look into central bank transparency to determine if there is any correlation to macroeconomic indicators which could provide economists with conclusive evidence regarding the health of a country’s economy. Central bank independence is known to be correlated with macroeconomic indicators and it is strongly believed that without transparency a central bank could not be independent. The project was formed after looking at the research of economists Efjiffinger, Eichengreen, and Dincer. A new index, based on five different macroeconomic indicators, was created and data was analyzed to determine the correlation to central bank transparency (38 banks considered).
Skip to PDF contentby Caleigh Johnson '21