This paper develops a theoretical model of dynamic decision-making of a monetary policy committee with heterogeneous members. It investigates the optimal transp

Is it desirable that central banks be more transparent in the communication of sensible information when agents have diverse private information? In practice, t

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 Nationa

Information asymmetries seem to play an important role in monetary economics. We consider three forms of information transmission which can be used to alleviate