TY - BOOK ID - 85600405 TI - An Index for Transparency for Inflation-Targeting Central Banks: Application to the Czech National Bank AU - Al-Mashat, Rania. AU - Bulir, Ales. AU - Dinçer, N. Nergiz. AU - Hlédik, Tibor. AU - Holub, Tomás. AU - Kostanyan, Asya. AU - Laxton, Douglas. PY - 2018 SN - 1484379535 1484379500 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Monetary policy. KW - Monetary management KW - Economic policy KW - Currency boards KW - Money supply KW - Macroeconomics KW - Economics: General KW - International Economics KW - Inflation KW - Banks and Banking KW - Money and Monetary Policy KW - Finance: General KW - Foreign Exchange KW - Informal Economy KW - Underground Econom KW - Price Level KW - Deflation KW - Monetary Policy KW - Central Banks and Their Policies KW - Interest Rates: Determination, Term Structure, and Effects KW - General Financial Markets: Government Policy and Regulation KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Banking KW - Monetary economics KW - Finance KW - Financial crises KW - Economic sectors KW - Prices KW - Inflation targeting KW - Monetary policy KW - Central bank transparency KW - Central banks KW - Central bank policy rate KW - Financial services KW - Financial sector stability KW - Financial sector policy and analysis KW - Currency crises KW - Informal sector KW - Economics KW - Interest rates KW - Financial services industry KW - Czech Republic UR - https://www.unicat.be/uniCat?func=search&query=sysid:85600405 AB - This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech National Bank (CNB), one of the most transparent inflation-targeting central banks. The CNB has invested heavily in developing a Forecasting and Policy Analysis System (FPAS) to implement a full-fledged inflation-forecast-targeting (IFT) regime. The components of CBT-IT index include measures of transparency about monetary policy objectives, the FPAS designed to support IFT, and the monetary policymaking process. For the CNB, all three components have shown substantial improvements over time but a few gaps remain. The CNB is currently working on eliminating some of these gaps. ER -