Setting New Priorities for the ECB’s Mandate

Christophe Blot (), Jerome Creel, Emmanuelle Faure and Paul Hubert
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Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po
Emmanuelle Faure: LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité, Station d'économie et de sociologie rurales de paris - INRA - Institut National de la Recherche Agronomique

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Abstract: Beyond price stability, the EU Treaties assign to the ECB a range of secondary objectives. We investigate the linkages between price stability and these objectives to assess whether they are independent, complementary or substitutable, which is important to refine the definition of the mandate. Keeping the current mandate would not provide leeway for the ECB to reach other objectives. We propose to broaden the mandate to include employment and financial stability. Enhanced coordination should contribute to fulfilling the objectives. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs.

Keywords: ECB’s Mandate; Financial stability; Employment (search for similar items in EconPapers)
Date: 2020-06-01
New Economics Papers: this item is included in nep-mon
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03389186v1
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Related works:
Working Paper: Setting New Priorities for the ECB's Mandate (2020)
Working Paper: Setting New Priorities for the ECB’s Mandate (2020)
Working Paper: Setting New Priorities for the ECB's Mandate (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-03389186

DOI: 10.2861/951157

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