The ECB and the Conduct of Monetary Policy: Goodhart's Law and Lessons from the Euro Area

Goodhart's Law states that 'any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes'. This article explores whether the inflation experience in EMU and the critique of the monetary policy strategy of the ECB can be understood in the light of this law. Copyright 2006 Blackwell Publishing Ltd.

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Year of publication:	2006
Authors:	GOODHART, C.A.E.
Published in:	Journal of Common Market Studies. - Wiley Blackwell, ISSN 0021-9886. - Vol. 44.2006, 11, p. 757-778
Publisher:	Wiley Blackwell

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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