The ECB is a central bank with a high level of transparency. However, it still does not publish voting records or … effectiveness of the ECB’s monetary policy could be enhanced by enlarging its transparency. This is especially necessary if the …

Economic and Monetary Union (EMU) depends on institutions and preferences. We then use the calibrated model to analyse how EMU …

using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU … substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since …

simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 … growth as the one used to interpret ECB policy is quite robust as long as it responds to current outcomes of these variables. …

public. Using the case of the European Central Bank (ECB), the paper analyses the favorableness with which monetary policy … information communicated by the ECB. There are, however, also indications of a critical monitoring role assumed by the media …, which tends to report more negatively on ECB policy decisions when inflation exceeds the inflation target. …

variables in the policy rule followed by European monetary authorities: this was true for the Bundesbank before EMU and has …The European Economic and Monetary Union (EMU) has created a new economic area, larger and closer with respect to the … rest of the world. Area-specific shocks are thus more important in EMU than country-specific shocks used to be in the …