The European Central Bank (ECB) ranks highly on our proposed central bank disclosure indicator, measuring activities of central banks to enhance the public's understanding of their policies. Nevertheless, our survey evidence suggests that private-sector economists do not consider the ECB...

This paper critically reviews the debate on CRAs and, in the light thereof, analyses the European regulatory approach to CRAs, thereby combining insights from economics and law. We first provide some basic background on the function of CRAs. Thereafter, we focus on the two main tasks for which...

This stimulating and original Handbook offers an updated and systematic discussion of the relationship between central banks, financial regulation and supervision after the global financial crisis.

The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national...

This paper reports the results of a survey among private sector economists about credibility and transparency of central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo’s World Economic Survey to answer questions on the importance and...

Die Bedeutung von Konjunkturumfragen und die daraus gewonnenen qualitativen Daten haben gerade in der Zeit eines beschleunigten sozialen und strukturellen Wandels stark zugenommen. Globalisierung, neue Technologien, rasanter Wertewandel, immer kürzere Produktzyklen, verschärfter Wettbewerb und...

Am 64. ifo Konjunkturtest International, der im April 1999 durchgeführt wurde,beteiligten sich fast 500 Experten aus 81 Ländern. Die Teilnehmer nahezu aller Regionen haben ihre Einschätzung der gegenwärtigen und/oder der zukünftigen Wirtschaftslage nach oben korrigiert, so daß sich das...