ABSTRACT
The analysis conducted in Chapter 2 showed that, while there are many similarities, there are also visible differences in the institutional arrangements of IT central banks. The aim of Chapter 3 is to examine these differences in a systematic way, by grouping institutional aspects into topic areas, and proposing a number of indices summarising central banks' set-ups. This facilitates answering the questions of how significant the differences are, and, in particular, what a comparison of institutional set-ups between advanced and emerging market economies looks like. Overall, the comparison shows that, indeed, institutional arrangements do differ between countries and do evolve over time. For that reason, they may affect the way monetary policy has been conducted, and are therefore worth analysing in detail.
