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The Eurosystem, the US Federal Reserve and the Bank of Japan: similarities and differences
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Personen und Körperschaften: | , , |
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Titel: | The Eurosystem, the US Federal Reserve and the Bank of Japan: similarities and differences/ by Dieter Gerdesmeier, Francesco Paolo Mongelli and Barbara Roffia |
Format: | E-Book |
Sprache: | Englisch |
veröffentlicht: |
Frankfurt am Main
European Central Bank
2007
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Gesamtaufnahme: |
Europäische Zentralbank: Working paper series ; 742
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Schlagwörter: | |
Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
Zusammenfassung: | The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These monetary authorities exhibit somewhat different status and tasks, which reflect different historical conditions and national characteristics. However, widespread changes in central banking practices in the direction of greater independence and increased transparency, as well as changes in the economic and financial environment over the past 15-20 years, have contributed to reduce the differences among these three world’s principal monetary authorities. A comparison based on simple over-the-counterʺ policy reaction functions shows no striking differences in terms of monetary policy implementation. |
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Umfang: | Online-Ressource, 47 S. = 923 KB, Text |