The Economic and Monetary Union: Institutions and Credibility

Horst Tomann
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Horst Tomann: Freie Universitaet (FU) Berlin

Chapter 3 in Monetary Integration in Europe, 2017, pp 37-53 from Palgrave Macmillan

Abstract: Abstract Chapter 3 describes the institutional setting of the monetary union and analyses how monetary policy works within the framework of the Economic and Monetary Union and how it is coordinated with other branches of macroeconomic policy. The chapter argues that the concept of credibility, which is introduced in this chapter, is at the core of these issues. Independence, accountability and transparency are discussed as the basic aspects of credibility of the European Central Bank.

Keywords: Monetary Union; European Central Bank (ECB); Monetary Policy; Price Stabilityprice Stability; Harmonised Index Of Consumer Prices (HICP) (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-319-59247-3_3

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DOI: 10.1007/978-3-319-59247-3_3

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