European monetary policy: Institutional design and policy experience |
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Authors: | Bernd Hayo |
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Institution: | (1) Faculty of Economics, University of Duisburg-Essen, Germany |
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Abstract: | The following article examines design issues relevant to European monetary policy: central bank independence, and the accountability
and transparency of monetary policy strategy. An empirical approach is then applied which allows a comparison between the
ECB and other central banks. It also enables an investigation of whether the ECB simply follows the US Federal Reserve Bank,
as is sometimes claimed. |
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Keywords: | |
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