The Formulation of Monetary Policy in EMU

Máiréad Devine and Daniel McCoy
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Máiréad Devine: Central Bank and Financial Services Authority of Ireland
Daniel McCoy: Central Bank and Financial Services Authority of Ireland

No 2/RT/98, Research Technical Papers from Central Bank of Ireland

Abstract: A key decision facing the newly formed European Central Bank will be the specification of a monetary policy strategy for the euro area. This article considers how monetary policy may be conducted within EMU, focusing on the main strategies under consideration. The agreed instruments and procedures that will be at the disposal of the ESCB are examined, where the various stages of monetary policy formulation through to the final target of price stability are outlined.

Pages: 27 pages
Date: 1998-06
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Persistent link: https://EconPapers.repec.org/RePEc:cbi:wpaper:2/rt/98

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