Verlag:
MIT Sloan School of Management, [Cambridge, MA]
The ongoing policy strategy review presents a unique opportunity for the ECB to examine how to best employ its immense power to fulfil its mandate. Two challenges require urgent attention. First, the “lowflation” problem – the outcome of overly tight...
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ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
Signatur:
VS 67
Fernleihe:
keine Fernleihe
The ongoing policy strategy review presents a unique opportunity for the ECB to examine how to best employ its immense power to fulfil its mandate. Two challenges require urgent attention. First, the “lowflation” problem – the outcome of overly tight policies that allowed inflation to drift considerably below 2% over the past several years. Second, the impairment of the monetary policy transmission mechanism in the euro area – a key factor behind the divergence of economic performance of different Member States that threatens the viability of the EMU. The ECB has the authority and tools to address these challenges, within its mandate, with suitable corrections in its monetary policy strategy
