Policy decentralization at the ECB
Uitgebreide analyse
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.
Uitgebreide analyse
Externe auteur
Christophe BLOT, Jérôme CREEL (Sciences Po, OFCE)
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Publicatietype
Zoekterm
- administratief beheer
- centrale bank
- decentralisatie
- ECONOMIE
- economische analyse
- economische geografie
- economische groei
- economische situatie
- EU-instellingen en Europese overheid
- EU-lidstaat
- EU-statistieken
- Europese Centrale Bank
- EUROPESE UNIE
- FINANCIËN
- GEOGRAFIE
- inflatie
- monetaire economie
- ONDERNEMING EN CONCURRENTIE
- POLITIEK
- risicobeheer
- uitvoerende macht en overheidsadministratie
- uniek monetair beleid
- werking van de instelling