Conventional Monetary Policy of the ECB

Horst Tomann
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Horst Tomann: Freie Universitaet (FU) Berlin

Chapter 4 in Monetary Integration in Europe, 2017, pp 55-79 from Palgrave Macmillan

Abstract: Abstract Chapter 4 analyses how European monetary policy works. Firstly, it briefly looks at theory to understand how monetary impulses are transmitted and how they affect the economy. Secondly, it discusses different monetary policy concepts that are derived from theory and that provide indicators for orientation. Finally, against this background, the conventional monetary policy strategy of the European Central Bank is evaluated. Five phases of main refinancing operations have to be distinguished that formed the core of conventional monetary policy until 2008.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-319-59247-3_4

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DOI: 10.1007/978-3-319-59247-3_4

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