Publication

This paper asks whether the European Central Bank (ECB) is sufficiently accountable and transparent. It notes that more than two years after its inception, the ECB continues to be perceived as lacking in transparency by many academics and market participants. The authors argue that analysis indicates the ECB is, at least on paper, one of the most transparent and accountable central banks in the world; however, the discrepancy between theory and public perception suggests much remains to be done within the given institutional framework.