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 …

This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate …

This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate …

This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate …

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