Accountability of Central Banks: Aspects and Quantification

J. de Haan, F. Amtenbrink, S.C.W. Eijffinger

Research output: Working paperDiscussion paperOther research output

434 Downloads (Pure)

Abstract

This paper starts with a discussion of the various aspects of accountability of central banks. On the basis of this discussion we construct an indicator for accountability for 16 central banks, including the European Central Bank. It is shown that the degree of accountability differs considerably and that the ECB has a rather low score. The indicator is used to examine the relationship between central bank independence and accountability. It is concluded that although there appears to be a negative relationship between independence and accountability, this does certainly not imply that a central bank cannot both be independent and accountable.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages27
Volume1998-54
Publication statusPublished - 1998

Publication series

NameCentER Discussion Paper
Volume1998-54

Fingerprint

Central bank
Quantification
Accountability
Central bank independence
European Central Bank

Keywords

  • central bank independence
  • central bank accountability
  • European central bank

Cite this

de Haan, J., Amtenbrink, F., & Eijffinger, S. C. W. (1998). Accountability of Central Banks: Aspects and Quantification. (CentER Discussion Paper; Vol. 1998-54). Tilburg: Macroeconomics.
de Haan, J. ; Amtenbrink, F. ; Eijffinger, S.C.W. / Accountability of Central Banks : Aspects and Quantification. Tilburg : Macroeconomics, 1998. (CentER Discussion Paper).
@techreport{51661f179a864fde9ab5a0dd6747105c,
title = "Accountability of Central Banks: Aspects and Quantification",
abstract = "This paper starts with a discussion of the various aspects of accountability of central banks. On the basis of this discussion we construct an indicator for accountability for 16 central banks, including the European Central Bank. It is shown that the degree of accountability differs considerably and that the ECB has a rather low score. The indicator is used to examine the relationship between central bank independence and accountability. It is concluded that although there appears to be a negative relationship between independence and accountability, this does certainly not imply that a central bank cannot both be independent and accountable.",
keywords = "central bank independence, central bank accountability, European central bank",
author = "{de Haan}, J. and F. Amtenbrink and S.C.W. Eijffinger",
note = "Pagination: 27",
year = "1998",
language = "English",
volume = "1998-54",
series = "CentER Discussion Paper",
publisher = "Macroeconomics",
type = "WorkingPaper",
institution = "Macroeconomics",

}

de Haan, J, Amtenbrink, F & Eijffinger, SCW 1998 'Accountability of Central Banks: Aspects and Quantification' CentER Discussion Paper, vol. 1998-54, Macroeconomics, Tilburg.

Accountability of Central Banks : Aspects and Quantification. / de Haan, J.; Amtenbrink, F.; Eijffinger, S.C.W.

Tilburg : Macroeconomics, 1998. (CentER Discussion Paper; Vol. 1998-54).

Research output: Working paperDiscussion paperOther research output

TY - UNPB

T1 - Accountability of Central Banks

T2 - Aspects and Quantification

AU - de Haan, J.

AU - Amtenbrink, F.

AU - Eijffinger, S.C.W.

N1 - Pagination: 27

PY - 1998

Y1 - 1998

N2 - This paper starts with a discussion of the various aspects of accountability of central banks. On the basis of this discussion we construct an indicator for accountability for 16 central banks, including the European Central Bank. It is shown that the degree of accountability differs considerably and that the ECB has a rather low score. The indicator is used to examine the relationship between central bank independence and accountability. It is concluded that although there appears to be a negative relationship between independence and accountability, this does certainly not imply that a central bank cannot both be independent and accountable.

AB - This paper starts with a discussion of the various aspects of accountability of central banks. On the basis of this discussion we construct an indicator for accountability for 16 central banks, including the European Central Bank. It is shown that the degree of accountability differs considerably and that the ECB has a rather low score. The indicator is used to examine the relationship between central bank independence and accountability. It is concluded that although there appears to be a negative relationship between independence and accountability, this does certainly not imply that a central bank cannot both be independent and accountable.

KW - central bank independence

KW - central bank accountability

KW - European central bank

M3 - Discussion paper

VL - 1998-54

T3 - CentER Discussion Paper

BT - Accountability of Central Banks

PB - Macroeconomics

CY - Tilburg

ER -

de Haan J, Amtenbrink F, Eijffinger SCW. Accountability of Central Banks: Aspects and Quantification. Tilburg: Macroeconomics. 1998. (CentER Discussion Paper).