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 …

- related to predictability - and ex post transparency - related to accountability. In economics, increased transparency is …Transparency has become a catchword and in the economic-political debate is often seen as a universal remedy for all … sorts of problems. In this paper, we analyze and discuss the meaning and use of the concept of transparency in economic …