The Controllability of a Monetary Aggregate in EMU

Alberto Cabrero, Juan L. Escrivá, Emilio Muñoz and Juan Peñalosa

Working Papers from Banco de España

Abstract: The ECB has still not decided which monetary policy strategy to pursue from 1999. However, the preparatory work has reduced the possible alternatives to two: a strategy of intermediate objectives fixed in terms of the quantity of money and a direct inflation targeting strategy. It would be also possible to apply a strategy combining element of both.

Keywords: MONETARY POLICY; EUROPE; MONETARY AREAS (search for similar items in EconPapers)
JEL-codes: F15 F33 F42 (search for similar items in EconPapers)
Pages: 38 pages
Date: 1998
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:9817

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