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    The conduct of monetary policy in the main areas

    Sibert, Anne (2005) The conduct of monetary policy in the main areas. Other. Committee on Economic and Monetary Affairs (ECON) of the European Parliament.

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    The euro area, like the United Kingdom and unlike the United States, has provided its central bank with the clear and appropriate sole task of pursuing low ináation. Unlike the United Kingdom, the euro area has failed to provide its central bank with an appropriate institutional structure for carrying out this role. The ECBís strategy for attaining a reputation for ináation aversion has thus been two fold. First, it has followed the United States and the United Kingdom in pursuing low ináation. Second, unlike the United States, it has attempted to provide itself with an appropriate institutional structure. Unfortunately, the ECB has been less successful at this than the United Kingdom. As a result, policy makers at the ECB share US policy makers reputation for ináationary toughness, but the ECB ñ as an institution ñmay not share the UK MPCís credibility.


    Item Type: Monograph (Other)
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 25 Aug 2020 08:44
    Last Modified: 02 Aug 2023 18:03


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