“Whatever it takes”: A plea for active monetary policies

Paolo Canofari, Giovanni Di Bartolomeo () and Marcello Messori

Economics Letters, 2021, vol. 208, issue C

Abstract: Our paper aims to analyze Mario Draghi’s famous statement, the “whatever it takes”, as a mechanism that preserves the common good of financial stability and facilitates debt control in the peripheral countries. Although we consider decentralized fiscal policies, a more conservative policy stance is achieved under “whatever it takes” than under an inflation targeting regime.

Keywords: Euro break-up; Financial stability; Global public good; EMU’s institutions (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:208:y:2021:i:c:s0165176521003372

DOI: 10.1016/j.econlet.2021.110060

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