The reputation of a newborn central bank

Zeno Rotondi () and Giacomo Vaciago
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Zeno Rotondi: Capitalia, Funzione Studi, Roma (Italy)

BNL Quarterly Review, 2003, vol. 56, issue 224, 3-22

Abstract: Most of the problems that the European Central Bank has encountered are due to the slow progress made in improving the quality of the monetary union. The increasing variance of the inflationary process among the 12 countries, especially at the extremes of income level distribution – between Germany and Portugal, say – has meant that the common monetary policy is not yet the best possible. The quest for an optimum currency area continues.

Keywords: European; Central; Bank (search for similar items in EconPapers)
JEL-codes: E52 E58 F36 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (9)

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