Trasparenza economica e povertà
DOI:
https://doi.org/10.13133/2037-3651/10394Keywords:
trasparenza economica, povertàAbstract
Nowadays, with the diffusion of inflation targeting, the main instrument that central banks use to achieve final objectives in the implementation of monetary policy (concerning inflation and unemployment) is the interest rate. Furthermore, recent studies point out that central bank transparency contributes to reducing asymmetric information and price stability. As inflation, unemployment and interest rates are determinants of the level of poverty, the central bank's behaviour is relevant to its reduction. Accordingly, the present paper highlights the connection between economic transparency and poverty. The theoretical and empirical results denote that central bank transparency is a useful strategy in reducing income inequality and poverty.
JEL Codes: I32, E52
References
BERNANKE B.S. (2004), "The logic of monetary policy", contributo presentato al National Economists Club, Federal Reserve Board, 2 dicembre, Washington.
BLINDER A. (2000), Central Banking in Theory and Practice, MIT Press, Cambridge, Mass.
COOLEY T.E e G.D. HANSEN (1991), "The welfare costs of moderate inflations", Journal of Money, Credit and Banking, vol. 23, no. 3, pp. 483-503.
DE MENDONÇA H.E (2007), "Empirical evidence from fourteen countries with explicit inflation targeting", Applied Economics Letters, forthcoming.
DE MENDONÇA H.E e J. SIMÀO FILHO (2007), "Economic transparency and effectiveness of monetary policy", Journal of Economic Studies, forthcoming.
DEININGER K. e L. SQUIRE (1996), "Measuring income and inequality: a new database", Development Discussion Papers, no. 537, Harvard University College.
FRY M., D. JULIUS, L. MAHADEVA, S. ROGER e G. STERNE (2000), "Key issues in the choice of monetary policy framework", in L. Mahadeva e G. Steme eds, Monetary Policy Frameworks in a Global Context, Routledge, London, pp. 1-216.
NEWEY W.K. e K.D. WEST (1987), "A simple, positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix", Econometrica, vol. 55, no. 3, pp. 703-08.
RAVALLION M. (1992), "Poverty comparisons: a guide to concepts and methods", LSMS Working Paper, no. 88, World Bank.
SVENSSON L.E.O. (1999), "Monetary policy issues for the Eurosystem", NBER Working Paper, no. 7177, June.
WOODFORD M. (2005), "Central bank communication and policy effectiveness", Working Paper, no. 118989; http://www.nber.org/papers/w11898.
Downloads
Issue
Section
License
All material in this website and every article published by the review are licensed under a Creative Commons Attribution - Non commercial - No derivates 4.0 International license. Authors retain all rights on their works and grant the right to first publication to the review under the aforementioned license.
