A monetary policy framework for the European Central Bank to deal with uncertainty
We argue that monetary policy faces different challenges to those faced during the period of the great moderation. Greater uncertainties over the ability of monetary policy to control inflation, the instruments that should be used and their effects on financial stability imply that we need to rethink whether the current framework is appropriate. We recommend a few adaptions to the current framework that would provide greater flexibility to the European Central Bank without departing very far from current practices (to avoid risking the credibility that the ECB has acquired since its inception). This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.
Analiza
Autorzy zewnętrzni
Grégory Claeys, Maria Demertzis, Jan Mazza
O tym dokumencie
Rodzaj publikacji
Słowo kluczowe
- EKONOMIA
- Europejski Bank Centralny
- FINANSE
- GEOGRAFIA
- geografia gospodarcza
- gospodarka pieniężna
- instytucje kredytowe i finansowe
- instytucje UE i europejska służba publiczna
- jednolita polityka walutowa
- odsetki
- państwo członkowskie UE
- polityka podatkowa
- stosunki walutowe
- strefa euro
- system podatkowy
- sytuacja gospodarcza
- UNIA EUROPEJSKA
- wzrost gospodarczy