The interaction of monetary and financial tasks in different central bank structures

Aerdt Houben, Jan Kakes and Annelie Petersen

MPRA Paper from University Library of Munich, Germany

Abstract: This article describes how the institutional set-up of central bank tasls policies differs across Europe and discusses central bank involvement. In some jurisdictions (like Austria) the central bank continues to focus on its core monetary tasks, whereas in other jurisdictions (like the Netherlands) the central bank also plays a prominent role in non-monetary financial policy fields. The purpose of this article is to i) map out how traditional and new policy tools are organized across Europe, ii) discuss how these policy instruments interact, iii) review the pros and cons of central bank involvement, and iv) discuss how the organization of policies – particularly the role of the central bank – may be related to country-specific features (like the importance of large, systemic banks).

Keywords: Central banks; monetary policy; lender of last resort; macroprudential policy; supervision; resolution (search for similar items in EconPapers)
JEL-codes: E52 E58 G28 G38 (search for similar items in EconPapers)
Date: 2020-08
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mac and nep-mon
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Published in Proceedings of OeNB Workshops 22 (2020): pp. 73-86

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Chapter: The interaction of monetary and financial tasks in different central bank structures (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:102291

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