drawbacks the potential absence of accountability by the monetary authority. Then, beyond defining an alternative legal central … independence and accountability degrees. With that data, we confirm previous studies, showing evidence of a de jure negative … relationship between central bank independence and democratic accountability, though not as strong as it is usually argued. Still …

accountability through transparency leads to a lower expected rate of inflation and less stabilization of supply shocks …The first part of this paper outlines the concept of democratic accountability of central banks, and compares the legal … accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve …

In this paper we investigate central bank accountability by looking at the effect of transparency in a simple monetary …'s accountability. The paper shows that transparency leads to a lower expected rate of inflation and less stabilization of supply shocks. … banker's preferences for inflation stabilization relative to output stabilization. Transparency enhances the central bank …

Central bank transparency has become the topic of a lively public and academic debate on monetary policy. Unfortunately …, it has been complicated by the fact that transparency is a qualitative concept that is hard to measure. This Paper … proposes a comprehensive index for central bank transparency that comprises the political, economic, procedural, policy and …

This paper attempts to discern from financial market data the impact of greater monetary policy transparency over the … difficult to isolate from cross-country data any specific preferred model of monetary policy transparency. …