期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2007
卷号：1
出版社：European Central Bank
摘要：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-counter” policy reaction functions shows no striking differences in terms of monetary policy implementation.
关键词：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-counter” policy reaction functions shows no striking differences in terms of;monetary policy implementation.
