. Together, this has brought to the fore an important but so far unresolved issue: to what extent should a central bank …'s communication reflect the full spectrum of opinions among its committee members? Does information on all members views make monetary … measure the sentiment and tone of the minutes of the Swedish central bank using an automated content analysis that converts …

representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to … Bundesbank and not always optimal. -- Central Bank ; Federal Central Bank ; currency union ; optimal representation ; voting …

' educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set …

commoncentral bank. Modeling this as a common agency with incentivecontracts, we show that if incentives are all that matters for … the bank,the equilibrium implements a weighted average of the countries most preferred policy. We then argue that making … the bank inflationaverse and/or attentive towards the countries economicdevelopments is undesirable in this context. …

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 …

price setters to infer the central bank's future policy intentions, thereby making current inflation more responsive to … policy actions. This induces the central bank to pay more attention to inflation rather than output gap stabilization. Then …, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low …

that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central … bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the … caused by uncertainty about the economic disturbances to which the central bank responds. Only perfect transparency about …

This paper presents a small open economy model to analyze the role of central bank liquidity management in implementing … that the central bank uses to manage liquidity in the economy, which creates a role for the central bank balance sheet in … list of eligible collaterals accepted at the liquidity facilities operated by the central bank. These policies have been …