accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve … System). In the second part, we present a theory of central bank accountability. Two aspects of accountability are considered … accountability through transparency leads to a lower expected rate of inflation and less stabilization of supply shocks …

three countries that adopted inflation targets in the early 1990s: The United Kingdom, Canada, and New Zealand. For all …Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations … of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single …