In this paper we compare the policy responsiveness of the Federal Reserve System, the European Central Bank, the Bank of Japan and the Bank of England. At first glance we find substantial differences in the frequency and amplitude of monetary policy decisions. Differences in the actual...

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...

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...