System). In the second part, we present a theory of central bank accountability. Two aspects of accountability are considered …

We examine whether it is socially beneficial for the individual voting records of centralWir untersuchen, ob die …

We examine whether the publication of the individual voting records of central-bank council members is socially … optimal behavior for somewhat less efficient central bankers. However, after re-appointment, losses will be lower when voting … and can make central bankers individually accountable. In our model, the negative effects of voting transparency dominate …