How to reform the European Central Bank

Jean-Paul Fitoussi and Jerome Creel

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Abstract: The European Central Bank has by and large applied the right monetary policy, according to Jean-Paul Fitoussi and Jérôme Creel. Nevertheless the authors argue for a range of reforms that would make the ECB more effective and accountable. They suggest a role for the European Parliament in setting monetary policy targets. And with EU enlargement around the corner, they propose reforms to the composition of the ECB's policymaking council. Finally, they make the case for a thorough revamp of the Stability and Growth Pact, which threatens to strangle Europe's economic recovery.Jean-Paul Fitoussi is a Professor at the Paris Institut d'Études Politiques, and President of the OFCE (Observatoire français des conjonctures économiques). Jérôme Creel is a research officer at the OFCE.

Keywords: European Central Bank; Monetary policy; European Union countries; Politique monétaire; Banque centrale européenne; Pays de l'Union européenne (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (4)

Published in Centre for European Reform, pp.68, 2002, 9781901229349

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