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

Overview

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 ...

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Overview

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.

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Editorial Reviews

From the Publisher
"...a lot of useful and well-written information..." Albrecht Ritschl, Humboldt-Universitaet zu Berlin, H-Net

"This short book is a remarkable attempt to cut through the maze of regulation and Eurospeak in order to illuminate the structure and functioning of the European Central Bank...much can be learend from it; not just from the material, but from the mere fact that it has been written at all. Such work should become more common. I recommend it without reservation." Eastern Economic Journal James L. Barbour, Elon University

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Product Details

  • ISBN-13: 9780521788885
  • Publisher: Cambridge University Press
  • Publication date: 7/28/2001
  • Edition description: New Edition
  • Pages: 210
  • Product dimensions: 5.98 (w) x 8.98 (h) x 0.47 (d)

Table of Contents

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.

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