Chapter 19 Accountability of the Central Bank for Monetary Policy
Author:
International Monetary Fund
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Language:
English
Print Publication Date:
26 Aug 1999
Keywords:
SEM; bank; central bank; bank regulator; certificate; consumer; bank supervisor; securities entitlement; e-money product; securities certificate; Securities; Government securities; Currencies; Capital flows; Global; East Asia; Europe; Western Europe; Middle East; low-inflation country; model of the economy; monetary policy target; inflation expectation; district bank; Exchange rates; Inflation; Inflation targeting; Price stabilization; Monetary aggregate target

Abstract

It is a pleasure to be invited by the Legal Department and the Institute of the International Monetary Fund to address such a distinguished group of central bank officials representing so many different countries. As Director of Research at the Federal Reserve Bank of New York, I am often asked to comment on issues pertaining to monetary policy. One of the issues that fascinates me the most is how a central bank can function as an independent institution while maintaining the accountability to the public necessary in a representative democracy.

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Cover Current Developments in Monetary and Financial Law, Vol. 1
Current Developments in Monetary and Financial Law, Vol. 1
ISBN:
9781557757968
Publication Date:
26 Aug 1999
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557757968.072
Pages:
656