The Tail Wagging the Dog? Overcoming Financial Dominance
The idea of financial dominance has gained some notoriety in recent years as a further constraint on central bank policymaking. This paper examines the reality of financial dominance and how the financial sector may be an impediment to the necessary unwinding of all unconventional monetary policies in Europe. In line with the existing literature, I conclude that the financial sector has been made more vulnerable as a result of quantitative easing – and allowing the financial tail to wag the monetary dog will lead to only more vulnerability. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.
Grinnanailís
Údar seachtarach
Christopher A. HARTWELL
Maidir leis an doiciméad seo
Saghas foilseacháin
Eochairfhocal
- AIRGEADAS
- An Banc Ceannais Eorpach
- AN tAONTAS EORPACH
- aontas baincéireachta an Aontas Eorpaigh
- banc ceannais
- beartas baincéireachta
- cobhsaíocht airgeadais
- córas baincéireachta
- eacnamaíocht airgeadaíochta
- institiúidí airgeadais agus creidmheas
- institiúidí an AE agus an tseirbhís shibhialta Eorpach
- saorghluaiseacht chaipitil