Search: fiscal transparency
RBA Glossary definition for fiscal transparency
fiscal transparency – The facility which enables investors and other interested parties to satisfy themselves as to the nature and quality of the decision process pursued by policy-makers in government or the corporate entity concerned. One of the 12 key standards identified by the Financial Stability Forum as the minimum required for good practice in sound financial systems. Fiscal transparency strengthens accountability of the government and decreases the risk of maintaining unsustainable policies.
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Discussion on A Perspective on Monetary Policy Transparency and Communication | Conference – 2004
9 Aug 2004
Conferences
Financial market deregulation has gone hand in hand with both the increasing authority of central banks, and with their increased transparency. ... These rationales are listed here to make the point that transparency is no longer discretionary, or
https://www.rba.gov.au/publications/confs/2004/edey-stone-disc.html
Discussion on Designing Inflation Targets | Conference – 1997
21 Jul 1997
Conferences
In this context, Haldane is correct to ascribe a highly significant role to transparency. ... Recently, the Reserve Bank of New Zealand has advanced its transparency a step further.
https://www.rba.gov.au/publications/confs/1997/brash-debelle-disc.html
Designing Inflation Targets | Conference – 1997
21 Jul 1997
Conferences
t. – which goes to the issue of the need for a degree of transparency to ensure the feedback rule, Equation (1), is verifiable and monitorable, issue (g). ... Even in the face of large deflationary shocks, fiscal policy can always step into the breach
https://www.rba.gov.au/publications/confs/1997/haldane.html
Inflation Targeting in New Zealand: An Experience in Evolution | Conference – 2018
12 Apr 2018
Conferences
And crucially, transparency aids in the assessment of our actions, and allows us to be held to account. ... See Blinder (1998) for an excellent discussion of central bank independence and transparency.
https://www.rba.gov.au/publications/confs/2018/mcdermott-williams.html
The Case for Inflation Targeting in East Asian Countries | Conference – 2001
24 Jul 2001
Conferences
Absence of fiscal dominance is a vital prerequisite for an inflation-targeting regime. ... Finally, the increased transparency serves as a useful means of communicating with the public.
https://www.rba.gov.au/publications/confs/2001/debelle.html
Robust Design Principles for Monetary Policy Committees | Conference – 2018
12 Apr 2018
Conferences
Monetisation of fiscal deficits was not a significant impetus for most of those episodes. ... Transparency mitigates the risk of undue influence by special interests. The process should foster public confidence in the integrity of the institution.
https://www.rba.gov.au/publications/confs/2018/archer-levin.html
Fifty Years of Monetary Policy: What Have We Learned? | Conference – 2010
9 Feb 2010
Conferences
Meanwhile, fiscal policy took centre stage when it came to dampening the business cycle. ... legal independence, which in turn indirectly imposes a degree of discipline on fiscal authorities.
https://www.rba.gov.au/publications/confs/2010/cagliarini-kent-stevens.html
Monetary and Macroprudential Policies: The Case for a Separation of Powers | Conference – 2018
12 Apr 2018
Conferences
well be to set tight fiscal policy but loose monetary policy (see Kohn (2017) on this point). ... Differences in objectives also drive many results concerning fiscal and monetary policy coordination.
https://www.rba.gov.au/publications/confs/2018/broadbent.html
Credibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada | Conference – 2018
12 Apr 2018
Conferences
Other contributing factors included lax fiscal policy at the federal and provincial levels, along with oil price shocks. ... demand and prices, rather than portfolio shifts driven by concerns about fiscal sustainability.
https://www.rba.gov.au/publications/confs/2018/carter-mendes-schembri.html
Is Monetary Policy Less Effective When Interest Rates Are Persistently Low? | Conference – 2017
16 Mar 2017
Conferences
The problem could be exacerbated if the sovereign's creditworthiness came under strain: historically, fiscal crises have often occurred on the heels of financial crises (e.g. ... Jordà, Schularick and Taylor 2016). This is partly because financial booms
https://www.rba.gov.au/publications/confs/2017/borio-hofmann.html