Monetary Policy in the Euro Area

Strategy and Decision-Making at the European Central Bank

AvOtmar Issing,Vitor Gaspar

Häftad, Engelska, 2001

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Beskrivning

How and for whose benefit the European Central Bank (ECB) will work is the most important issue facing Europe, and has been the subject of vast media and academic interest which has already spawned a vast literature of discussion papers in the academic literature, and 'Euro Watch' features. Much of this discussion has been of an increasingly hysterical and political nature and has served to blur rather than inform. This book, written by a team at the ECB, including Otmar Issing the ECB's Chief Economist, provides the first comprehensive, inside, non-technical analysis of the monetary policy strategy, institutional features and operational procedures of the Eurosystem. The goals and the transmission mechanism of monetary policy are explored, as are the theoretical and empirical results underpinning the 'stability-oriented monetary policy strategy' adopted by the ECB. The characteristics of this strategy are also discussed in comparison with suggested alternatives.

Produktinformation

Utgivningsdatum:2001-07-26
Mått:153 x 228 x 17 mm
Vikt:352 g
Format:Häftad
Språk:Engelska
Antal sidor:210
Förlag:Cambridge University Press
ISBN:9780521788885

Utforska kategorier

Makroekonomi inom Ekonomi och Ledarskap

Recensioner i media

'A first: the articulation of the goals and strategy of the European Central Bank, from inside. It is an important document, which will help markets interpret monetary policy actions, and make for a much sharper professional and public debate.' Olivier Blanchard, MIT

Innehållsförteckning

Introduction; 1. Money, output and prices: the scope of monetary policy; 2. Monetary policy making: strategies and rules; 3. The Euro area: an overview; 4. The ECB strategy: defining price stability; 5. The role of money; 6. The broadly based assessment; 7. The ECB strategy: an overall view; 8. The operational framework; 9. Accountability and transparency; 10. The single monetary policy in 1999.