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The Economic and Monetary Union: Institutions and Credibility

In: Monetary Integration in Europe

Author

Listed:
  • Horst Tomann

    (Freie Universitaet (FU) Berlin)

Abstract

Chapter 3 describes the institutional setting of the monetary union and analyses how monetary policy works within the framework of the Economic and Monetary Union and how it is coordinated with other branches of macroeconomic policy. The chapter argues that the concept of credibility, which is introduced in this chapter, is at the core of these issues. Independence, accountability and transparency are discussed as the basic aspects of credibility of the European Central Bank.

Suggested Citation

  • Horst Tomann, 2017. "The Economic and Monetary Union: Institutions and Credibility," Studies in Economic Transition, in: Monetary Integration in Europe, edition 2, chapter 3, pages 37-53, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-319-59247-3_3
    DOI: 10.1007/978-3-319-59247-3_3
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