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Challenges for the ECB in times of deflation

Francesco Saraceno ()

ILO Working Papers from International Labour Organization

Abstract: This paper highlights how European Monetary Union (EMU) governance, as designed by the Maastricht Treaty and subsequent modifications, is unfit to deliver sound and effective macroeconomic management that is conducive to sustained and sustainable economic prosperity for all Europeans.

Keywords: monetary policy; economic recession; deflation; banking; impact evaluation; fiscal policy; EMU; politique monétaire; récession économique; déflation; activité bancaire; évaluation de l'impact; politique fiscale; UEM; política monetaria; recesión económica; deflación; actividad bancaria; evaluación de impacto; política fiscal; UEM (search for similar items in EconPapers)
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Date: 2015
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Published in Employment working paper series

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