A monetary policy framework for the European Central Bank to deal with uncertainty
We argue that monetary policy faces different challenges to those faced during the period of the great moderation. Greater uncertainties over the ability of monetary policy to control inflation, the instruments that should be used and their effects on financial stability imply that we need to rethink whether the current framework is appropriate. We recommend a few adaptions to the current framework that would provide greater flexibility to the European Central Bank without departing very far from current practices (to avoid risking the credibility that the ECB has acquired since its inception). This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.
Poglobljena analiza
Zunanji avtor
Grégory Claeys, Maria Demertzis, Jan Mazza
O dokumentu
Vrsta publikacije
Politično področje
Ključna beseda
- denarni odnosi
- denarno poslovanje
- država članica EU
- ekonomska geografija
- enotna monetarna politika
- euroobmočje
- Evropska centralna banka
- EVROPSKA UNIJA
- FINANCE
- fiskalna politika
- GEOGRAFIJA
- gospodarska rast
- gospodarske razmere
- GOSPODARSTVO
- institucije EU in evropska javna uprava
- kreditne in finančne institucije
- obdavčenje
- obresti