recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how … crisis have affected the conduct of monetary policy by the European Central Bank (ECB) within the Eurosystem, have led to the …

The ECB's one size monetary policy is unlikely to fit all euro area members, which raises a discussion about how much … ECB interest rates and Taylor-rule implied optimal rates at the member state level. Optimal rates explicitly take into …

actually implementing interest rate changes. The method is applied to ECB rate setting between 1999 and 2010 by estimating a … delivers a less aggressive policy rule as the ECB was constrained by the lower bound on nominal interest rates. The ECB's non …

countries. An alternative solution to ensure the European perspective of decision-making in the ECB Council is to match economic …

The ECB's one size monetary policy is unlikely to fit all euro area members at all times, which raises the question of … between actual ECB interest rates and Taylor-rule implied optimal rates at the member state level. Optimal rates explicitly …

This paper analyzes the interest rate setting of the European Central Bank (ECB) both before and after the outbreak of … uncertainty driven by heterogeneity in the ECB decision-making body, the governing council. Our results suggest the following …: First, the ECB acts according to its official mandate to maintain price stability and therefore to focus its decisions on …

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution …. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under … that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in …

We measure the tone (sentiment) of the ECB's Governing Council regarding economic outlook at the time of each monetary … policy meeting and use this information together with the Eurosystem/ECB staff macroeconomic projections to directly estimate … estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been …