In this paper, we study the influence of central bank transparency and informal central bank communication on the money … explicit prioritization of central bank objectives are the most important of these subcategories. Finally, there is no unique …

In this paper, we study the influence of central bank transparency on the formation of money market expectations in …

the ECB’s monetary policy is fully comparable (and sometimes slightly better) to that of the FED and the Bank of England …

bank activity has on interbank markets. In our model, banks optimize a portfolio of risky investments and riskless excess … household deposits. We then introduce a central bank into the model and show that central bank activity enhances financial … stability. We model the default of a large bank and analyse the resulting contagion effects. This is compared to a common shock …

accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve … Japan, Bank of England und Federal Reserve System). Im zweiten Teil stellen wir eine Theorie über die Rechenschaftspflicht … System). In the second part, we present a theory of central bank accountability. Two aspects of accountability are considered …

of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between … 2001 and 2006 is presented. During this earlier period the Bank of Japan was able to expand the monetary base very quickly …

The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …

development varies substantially, whereas changes in central bank instruments show both similarities and differences. We …

of monetary policy expectations, and second the impact of extraordinary central bank measures on money market rates. We …