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Dismantling the boundaries of the ECB's monetary policy mandate : the CJEU's OMT judgement and its consequences
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2016
The German Federal Constitutional Court (Bundesverfassungsgericht) submitted an order for referral to the European Court of Justice (CJEU) in 2014, asking it to clarify the compatibility of the "Outright Monetary Transactions" (OMT)-Programme with European Union law. The OMT-Programme prepares...
Persistent link: https://www.econbiz.de/10011445584
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Die geldpolitische Strategie der Europäischen Zentralbank : was geändert werden sollte und was nicht
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2021
Die Europäische Zentralbank (EZB) führt derzeit eine Überprüfung ihrer geldpolitischen Strategie durch. Die letzte … Mitgliedstaaten. Es sollte vermieden werden, dass die Geldpolitik fiskalisch dominiert wird. Das hierarchische Mandat der EZB mit … EZB stärker an quantitativen Referenzwerten (Zinsregeln, Geldmengenwachstum) orientieren. Die Transparenz der Geldpolitik …
Persistent link: https://www.econbiz.de/10012483382
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Die geldpolitische Strategie der Europäischen Zentralbank$dwas geändert werden sollte und was nicht
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2021
The European Central Bank (ECB) is currently conducting a review of its monetary policy strategy. The last formal review took place in 2003. Now the focus is on the extent to which this strategy has contributed in recent years to fulfill the mandate set out in the Treaties of the European Union...
Persistent link: https://www.econbiz.de/10012593332
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The admission of accession countries to an enlarged monetary union: a tentative assessment
Ca' Zorzi, Michele; Santis, Roberto A. De - European Central Bank - 2003
The enlargement of the European monetary union to include the accession countries (ACs) will not lead to higher average inflation in the enlarged euro area, but only to inflation redistribution across countries if continuity of the monetary policy framework is preserved. In the short term,...
Persistent link: https://www.econbiz.de/10005344832
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Money in monetary policy design: Monetary cross-checking in the New-Keynesian model
Wieland, Volker; Beck, Günter W. - European Central Bank - 2010
In the New-Keynesian model, optimal interest rate policy under uncertainty is formulated without reference to monetary aggregates as long as certain standard assumptions on the distributions of unobservables are satisfied. The model has been criticized for failing to explain common trends in...
Persistent link: https://www.econbiz.de/10008459134
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Welfare implications of joining a common currency
Ca' Zorzi, Michele; Santis, Roberto A. De; Zampolli, … - European Central Bank - 2005
This paper examines the welfare implications of a country joining a currency union as opposed to operating in a flexible exchange rate regime. At the country level, the suboptimal response to domestic and foreign shocks and the inability of setting inflation at the desired level may be offset by...
Persistent link: https://www.econbiz.de/10005530724