Monetary Policy in the Euro Area: Strategy and Decision-Making at the European Central Bank

ISBN-13: 9780521788885 / Angielski / Miękka / 2001 / 210 str.

Otmar Issing; Vitor Gaspar; Oreste Tristani

Opis

How and for whose benefit the European Central Bank (ECB) will work is one of the most important issues facing Europe, and has been the subject of vast media and academic interest. Much of this discussion has been of an increasingly emotional and political nature and has served to blur rather than inform. Written by a team at the ECB, including Otmar Issing, its Chief Economist, this study provides the first comprehensive, inside, non-technical analysis of the monetary policy strategy, institutional features and operational procedures of the Eurosystem.

Recenzje

'This book has a significant advantage over other technical studies on similar topics. It has succeeded in providing a coherent and sufficiently transparent analysis of economic and policy-related problems. Monetary economics can be hardly accessible to non-economists, but the four authors have made of it a fascinating scientific area showing that it shares many common features with disciplines as diverse as politics, linguistics and management.' Journal of European Affairs

Spis treści

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.