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We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis...
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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 determinants of credibility. The results of both surveys are very comparable …
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: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency … in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as …
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This paper examines the important but not often discussed issue of accounting in central banks. It highlights the distinguishing factors that make the financial statements of central banks unique relative to those produced by other bodies. We begin by explaining why central banks produce...
Persistent link: https://www.econbiz.de/10012991576
This paper begins with the concept of central bank independence and focuses its argument around one of its major drawbacks - the potential absence of accountability by the monetary authority. Then, beyond defining an alternative legal central bank independence index, we analyse the current...
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