Implicații ale politicii monetare unice în susținerea integrării financiare europene

The implications of single monetary policy in sustaining European financial integration

Andreea Avadanei

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this paper is to illustrate the general implications of single monetary policy in sustaining European financial integration. Our study is structured on two main sections; the first one presents the importance of money market integration for the common policy and the seconds analyses the transmission mechanism functioning under financial distress. An efficient and integrated money market is essential for a sound monetary policy, given that it provides an even distribution of central bank liquidity and a homogeneous level of short-term interest rates in the entire space of the common currency. If monetary policy transmission mechanism has been irreversibly affected by the international crisis, it is still premature to determine.

Keywords: single policy; transmission mechanism; financial distress; pass-through process (search for similar items in EconPapers)
JEL-codes: E42 F50 G01 (search for similar items in EconPapers)
Date: 2011-02-12
New Economics Papers: this item is included in nep-cba
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