This paper provides a simple weekly model of the regular supply of liquidity in the euro area, with a view to understanding the functioning of the euro area money market. The main result of the analysis is that liquidity has normally been provided by the ECB in a neutral and smooth manner, but...

The study discusses the relationship between accountability and transparency in central banking and the role and scope of parliamentary scrutiny. Special attention is given to the consequences of the current crisis for this area. For the authors, the current crisis shows that price stability...

Im Juni 1998 nahm die EZB ihre Arbeit auf, sie gilt als Testfall für das zukünftig stärker geeinte Europa. Obwohl die Protokolle der Ratssitzungen nicht öffentlich zugänglich sind, gelingt es dem zur Zeit in Bonn lebenden amerikanischen Wirtschaftsjournalisten durch genaue Recherche und...