Paper: The Eurosystem, Fed and Bank of Japan

The ECB Working Paper "The Eurosystem, the US Federal Reserve and the Bank of Japan: similarities and differences" 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

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