The Design of the Eurosystem's Monetary Policy Instruments (Contributions to Economics)
Description
The creation of a single monetary currency and a single monetary policy in the euro area has faced extraordinary challenges, among them the design of suitable monetary policy instruments. This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. To do so, a theoretical model framework is developed which brings together the monetary policy activities of a central bank and the liquidity management of banks considering the main characteristics and institutional features of the euro area.
Keywords
MONETARY POLICY_EUROPEEUROBANKS AND BANKING_EUROPE
