translate English to French: These measures should exhibit enough variation across time and countries to properly identify transparency effects.14 Finally, although not directly related to the concept of transparency, we investigate the role of the frequency of official MPC meetings, the use of economic models (with more than 10 equations) to guide policy, the size of the MPC, and central bank independence.15 Several estimation results based on various econometric specifications, such as cross-section, pooled, and ﬁxedeffects panel regressions, and regressions of instrumental variables, as well as a variety of deﬁnitions of the central bank’s loss function, are reported in Gosselin (2007).16 Table 3 summarizes and updates the main empirical ﬁndings.
Nous estimons d’abord le modèle sur données transversales et sur données de panel, puis faisons intervenir des effets ﬁxes et des variables instrumentales dans les régressions. Quant à la fonction de perte de la banque centrale, la variable dépendante y est déﬁnie de trois manières différentes.