Monetary Policy Challenges of the ECB Facing a Divergent Inflationary Process in the EMU Area

Georg Erber () and Harald Hagemann

Chapter 4 in Macroeconomics, Finance and Money, 2010, pp 54-74 from Palgrave Macmillan

Abstract: Abstract Before the process of the European Monetary Union began, the turbulence caused in the internal exchange rate system after the end of the Bretton Woods fixed exchange rate system led to the European Currency Unit (ECU), which was established in 1979, as the forerunner of the euro.1 Derived from a basket of varying amounts of currencies of the EU nations, the ECU was a unit of accounting used to determine exchange rates among the national currencies.

Keywords: Monetary Policy; Member Country; Inflation Rate; European Central Bank; Monetary Union (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1057/9780230285583_4

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