Policymaking in the European Central Bank: The Masters of Europe's Money

Policymaking in the European Central Bank: The Masters of Europe's Money

by Karl Kaltenthaler
     
 

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ISBN-10: 0742553663

ISBN-13: 9780742553668

Pub. Date: 08/17/2006

Publisher: The Rowman & Littlefield Publishing Group Inc

Drawing on numerous interviews with high-ranking and founding members of the European Central Bank (ECB), Karl Kaltenthaler identifies and explains the factors that shape the bank's domestic and international monetary strategies. As at all institutions, politics are very much involved in policy-making at the ECB. Kaltenthaler finds that instead of being unconcerned

Overview

Drawing on numerous interviews with high-ranking and founding members of the European Central Bank (ECB), Karl Kaltenthaler identifies and explains the factors that shape the bank's domestic and international monetary strategies. As at all institutions, politics are very much involved in policy-making at the ECB. Kaltenthaler finds that instead of being unconcerned with how the bank's policies impact the citizens of the Eurozone, the central bankers desire to keep the economy healthy. This desire is driven by the central bankers' two primary personal preferences: to appear competent to as much of society as possible and to maintain broad political support for their operational independence. The policy-making model that offers the best roadmap to a healthy economy is that of the German Bundesbank. To secure the long-term needs of the economy, the decisionmakers in the ECB have created a model that attempts to replicate the Bundesbank's success at the European level and to lend credibility to their own policies. Offering unprecedented access to the internal decisionmaking at the ECB, Policymaking in the European Central Bank will interest readers who want to understand this important European institution.

Product Details

ISBN-13:
9780742553668
Publisher:
The Rowman & Littlefield Publishing Group Inc
Publication date:
08/17/2006
Series:
Governance in Europe Series
Pages:
204
Product dimensions:
9.00(w) x 6.00(h) x 0.63(d)

Table of Contents

Chapter 1 Introduction Chapter 2 The Origins of the ECB Chapter 3 The Formation of the ECB's Monetary Policy Strategy Chapter 4 The Structure and Strategy of the ECB Chapter 5 The ECB's Operating Environment Chapter 6 The Exchange Rate Challenge Chapter 7 European Monetary Union Enlargement and the European Central Bank Chapter 8 Conclusion

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