Euro Area Policies: Selected Issues

International Monetary Fund

No 2008/263, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes euro area policies and discusses the implications of the 2007–08 financial sector turbulence for real economic activity. It examines the linkages between the financial and real sectors in the euro area. The paper discusses the European Central Bank’s (ECB) monetary analysis and the role of monetary aggregates in central banking, surveying the ongoing theoretical and empirical debate. The paper also describes the introduction of a “European Mandate” for financial sector authorities in the European Union (EU), a proposal that is under consideration by EU member states.

Keywords: ISCR; CR; bank; money market; inflation; monetary policy; rate; ECB watcher; portfolio shift; policy strategy; ECB policy; money market rate; bank lending channel; Bank credit; Financial sector; Credit; Demand for money; Global; Europe; Australia and New Zealand (search for similar items in EconPapers)
Pages: 79
Date: 2008-08-04
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