Policy decentralization at the ECB
Analiżi fil-Fond
15-09-2017
The decentralized implementation of ECB policy to national central banks has raised concerns about the transparency of policy operations. We argue that these concerns are misplaced: first, the sharp monetary easing under the assets purchase programme is actually allocated according to the capital key of the ECB; second, this allocation may feed divergences between the different Eurozone member states. Though the latter point is not part of the ECB mandate, we argue that another policy may well be possible.
Analiżi fil-Fond
Awtur estern
Christophe BLOT, Jérôme CREEL (Sciences Po, OFCE)
Dwar dan id-dokument
Tip ta’ pubblikazzjoni
Kelma għat-tiftix
- analiżi ekonomika
- bank ċentrali
- deċentralizzazzjoni
- EKONOMIJA
- ekonomija monetarja
- FINANZI
- il-Bank Ċentrali Ewropew
- IMPRIŻA U KOMPETIZZJONI
- inflazzjoni
- istituzzjonijiet tal-UE u servizz ċivili Ewropew
- maniġment
- POLITIKA
- politika monetarja unika
- setgħa eżekuttiva u servizz pubbliku
- sitwazzjoni ekonomika
- Stat Membru tal-UE
- statistika tal-UE
- tkabbir ekonomiku
- tħaddim tal-Istituzzjonijiet
- UNJONI EWROPEA
- ĠEOGRAFIJA
- ġeografija ekonomika
- ġestjoni tar-riskju