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Monetary policy in the time of Covid-19, or how uncertainty is here to stay

Author

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  • Maria Demertzis
  • Marta Domínguez-Jiménez

Abstract

The COVID-19 crisis has compounded the uncertainty that has come to characterise the European economy. We explore how this uncertainty manifests itself in terms of European Central Bank decision-making and the long-run challenges the ECB faces. Confidence in ECB actions will come from the contingency scenarios it considers and communicates on, and from the adoption of potential policies for a wide range of such scenarios. Greater clarity around the ECB’s inflation target and surrounding tolerance bands would also be beneficial

Suggested Citation

  • Maria Demertzis & Marta Domínguez-Jiménez, 2021. "Monetary policy in the time of Covid-19, or how uncertainty is here to stay," Politica economica, Società editrice il Mulino, issue 3, pages 313-338.
    • Handle: RePEc:mul:je8794:doi:10.1429/103966:y:2021:i:3:p:313-338
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