Gros, Daniel - Centre for European Policy Studies (CEPS) - 2012
, foremost the European Central Bank (ECB), in this process. Against this background, this paper first identifies the …. Finally, it introduces the possible role of the ECB and the ESRB in the process of rebalancing and as potential sources of … assesses the role of the common monetary policy and the monetary transmission mechanisms in the build-up of the imbalances …