Das Kommunikationsverhalten der EZB wird verschiedentlich kritisiert. Zwei Instrumente, mehr Transparenz und Forward Guidance, stehen dabei im Mittelpunkt. Die Veröffentlichung von Protokollen der EZB-Ratssitzungen wird immer wieder angemahnt, und die EZB gibt mittlerweile eine Vorausschau auf...

The European Community faces the task of reformulating its Mediterranean policy in the light of the rather disappointing experience with the “Global Mediterranean Policy” adopted in 1972, the effects of the southward enlargement of the Community and the changed world economic climate. The...

On January 1, 1981 the southward extension of the EC starts with the accession of Greece. Spain and Portugal are to follow suit in the near future. The consequences in the industrial sphere will be less spectacular than those in agriculture but still of considerable importance for the process of...

Over the past two decades Latin America, due to both political and economic considerations, has been endeavouring to establish intensive cooperative relations with the European Community. For a variety of reasons this objective has so far only been achieved in part. The Falklands/Malvinas...

In response to the financial crisis, the ECB has had to adopt new instruments to support the euro area economy and preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise. This paper briefly assesses the implications of enhanced...

In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data. We find that the uncertainty about the transmission process increases the need to take into account information about...

Sooner or later, the ECB must accept that monetary financing in support of deficit spending is a necessity not just for mitigating the coronavirus crisis, but also for averting a downward deflationary cycle that could pull the eurozone apart.