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 … vergleicht die gesetzlich festgelegte Rechenschaftspflicht der EZB mit der einiger anderer Zentralbanken (Bank of Canada, Bank of …

autoregressive framework. In this paper, I complement these studies and employ a matching approach to examine the impact of the Bank …

We estimate forward-looking Taylor rules on data from macroeconomic forecasts of three central banks (Bank of England …, National Bank of Poland and Swiss National Bank) in order to determine the extent to which these banks are forward looking in …

particular, this paper assesses whether the Tunisian Central Bank is indeed following a linear or a non linear augmented Taylor … nonlinear rule. The results obtained imply that the Tunisian Central Bank follows a nonlinear Taylor rule in the conduct of …

bank credibility. Forward guidance and the credibility of the central bank are uniquely modeled by utilizing a game … of forward guidance effectiveness, but still one that is below the fully credible case. (2) If a central bank is … macroeconomic variables to forward guidance statements in structural models with perfect credibility. (4) Imperfect central bank …

We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central …

This article investigates the relationship between central bank credibility and the volatility of the key monetary … policy instrument. Two main contributions are proposed. First, we propose a time-varying measure of central bank credibility … of monetary policy, the higher the credibility of the central bank, the lower the need to move its instruments to …