strengthen the de-facto independence of the European Central Bank. The authors shows how a regular proportionality check could be … quantitative benchmarks for policy rates and the central bank balance sheet. Deviations from such benchmarks can have benefits in …

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … bank's interest rate rule is based on a standard model of the monetary transmission process that underlies many … response to sustained deviations of long-run money growth helps the central bank to overcome this bias. Our argument in favor …

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … criticism for this decision. The case against including money in the central bank's interest rate rule is based on a standard …