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The dilemma of central bank transparency

If central banks publish the transcripts of their internal policy debates, will discussions be enhanced or inhibited? Michael McMahon and colleagues use tools from computational linguistics to analyse the positive and negative effects of transparency on deliberations of the monetary policymakers at the US Federal Reserve.

Stephen Hansen, Michael McMahon and Andrea Prat

19 January 2015     Paper Number CEPCP439

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This CentrePiece article is published under the centre's programme.