history of honesty and a high level of central bank independence. According to our respondents, the Federal Reserve is the … most credible, transparent and independent central bank out of seven large central banks. The ECB is not perceived as …

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 …

and communication in the inflation targeting framework grant the central bank greater short-run flexibility in pursuit of … to central bank behavior, and which interpretation of the strategy is consistent with that assessment. We identify five …