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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The Real Effects of Debt Covenants: Evidence from Australia
25 Oct 2022
RDP
2022-05
As discussed earlier, this could be due to the trend towards greater transparency in corporate reporting or an increase in the usage of covenants in debt contracts (or both).
https://www.rba.gov.au/publications/rdp/2022/2022-05/full.html
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The Institutional Design Framework for Monetary Policy
9 Dec 2019
RDP
2019-11
Accountability and transparency – the central bank is held accountable by lawmakers for meeting these monetary policy objectives. ... As discussed below, the mechanisms for transparency are more similar than those for accountability per se.
https://www.rba.gov.au/publications/rdp/2019/2019-11/the-institutional-design-framework-for-monetary-policy.html
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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
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
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
Discussion | Conference – 2018
12 Apr 2018
Conferences
This led to some discussion on transparency and communication. A participant noted that these had previously been agreed as two key pillars of an effective inflation-targeting regime, and that they ... Lastly, the point was made that the role of fiscal
https://www.rba.gov.au/publications/confs/2018/broadbent-disc.html
Discussion | Conference – 2018
12 Apr 2018
Conferences
Hutchins Center on Fiscal & Monetary Policy at Brookings, Hutchins Center Working Paper No 15. ... A participant stated that monetary policy and fiscal policy ultimately have to be consistent.
https://www.rba.gov.au/publications/confs/2018/mckibbin-panton-disc.html
New Financial Stability Governance and Central Banks | Conference – 2017
16 Mar 2017
Conferences
and CB communications on macroprudential policy and financial stability topics, which they interpret as capturing transparency and accountability. ... broaden support for the agencies' action as well as result in greater transparency for the decision.
https://www.rba.gov.au/publications/confs/2017/edge-liang.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