Easy Monetary Policy: Effectiveness and Limits

Mario Baldassarri and Francesco Busato
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Mario Baldassarri: University of Rome
Francesco Busato: Columbia University

Chapter 6 in Full Employment and High Growth in Europe, 2003, pp 98-116 from Palgrave Macmillan

Abstract: Abstract We begin the positive part of our analysis with a more expansive monetary policy that pushes the overall level of interest rates toward the low end. The measurements that emerge from this analysis refer, first, to the aggregate data for the 12 countries of the Monetary Union, and then to the “two Europes” (or three, as suggested in Chapter 4 of the book). In this context we evaluate the possibilities that can be offered to the different national realities by a more expansive monetary policy put in place for everyone by the ECB.

Keywords: Interest Rate; Unemployment Rate; Monetary Policy; Full Employment; Dark Line (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3736-0_6

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DOI: 10.1057/9781403937360_6

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