ROLA PRZEJRZYSTOŚCI I ODPOWIEDZIALNOŚCI POLITYKI PIENIĘŻNEJ BANKU CENTRALNEGO
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Date
2008
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Wydział Prawa i Administracji UAM
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ROLE OF TRANSPARENCY AND RESPONSIBILITY IN THE MONETARY POLICY OF CENTRAL BANKS
Abstract
The paper focuses on quality aspects of the monetary policy carried out by central banks, such as
the recently emphasised transparency and democratic responsibility, and presents the role of such an
institutionalised framework of the monetary policy in the communication strategy of central banks,
its influence on the “perception” of the monetary policy by financial markets and the public, and the
responsibility of relevant authorities for decisions made.
Different types of transparencies and the manner in which democratic responsibility is
interpreted have been characterised. Their links with the independence of contemporary central
banks and the benefits flowing form a transparent monetary policy as well as consequences of
a democratic responsibility on the monetary policy have been emphasised.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 70, 2008, z. 4, s. 151-168
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0035-9629