Publication

This paper investigates whether the European Central Bank (ECB) is a transparent and accountable organization in the EU institutional framework. The author discusses the concept of accountability and the role of transparency in the economics literature. He also analyzes the mechanisms of the ECB in this regard and compares its characteristic traits with the Federal Bank of the US, the Bank of Japan, the Bank of England and the German Bundesbank. The paper concludes with a set of practical recommendations.