The Monetary Policy of the ECB Under Treaty Article 105

Study 01-04-1999

Now that the Euro has been successfully launched 'the time has come for a more comprehensive analysis of the ECB's monetary policy'. Prof. Dr Bofinger of Würzburg University examines the ECB's task of supporting the general economic policy of the EU; criticises the use of money-supply targets; and suggests improvements, in particular a 'transparent inflation target'.