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accountability has increased quickly and dramatically since 2017. Second, if the relationship between price stability and climate …The ECB is independent, but it is also accountable to the European parliament (EP). Yet, how the EP has held the ECB … accountability modalities. The paper highlights three findings. First, topics of accountability have changed. Climaterelated …
Persistent link: https://www.econbiz.de/10013332291
The ECB's price stability mandate has been defined by the Treaty. But the Treaty has not spelled out what price stability precisely means. To make the mandate operational, the Governing Council has provided a quantitative definition in 1998 and a clarification in 2003. The landscape has changed...
Persistent link: https://www.econbiz.de/10012627164
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This working paper offers some considerations on the monetary policy framework of the European Central Bank. The trade-offs arising from adopting a point target configuration over a range target one are assessed in terms of their flexibility vs. inflation anchoring properties. This layout is...
Persistent link: https://www.econbiz.de/10012802090
policy strategy has not been matched with enhanced accountability arrangements between the ECB and the European Parliament …A striking asymmetry defines the European Central Bank (ECB)’s approach to democratic accountability. Today’s ECB makes … time, the central bank continues to hew closely to the Treaty’s scarce democratic accountability provisions. In this …
Persistent link: https://www.econbiz.de/10014357895
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The actions by the European Central Bank (ECB) during the global and European crises have triggered a highly controversial debate, in particular in Germany, about the costs and benefits of the chosen policy path. The article reviews, compares, and evaluates the different arguments made in favor...
Persistent link: https://www.econbiz.de/10011458707