The Monetary Pillar and the Great Financial Crisis
AbstractSince its inception, a most distinctive (and controversial) feature of the ECB monetary policy strategy has been its emphasis on money and monetary analysis, which constitute the basis of the so-called monetary pillar. The present paper examines the performance of the monetary pillar around the recent financial crisis episode, and discusses its prospects in light of the renewed emphasis on financial stability and the need for enhanced macro-prudential policies.
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Bibliographic InfoPaper provided by Barcelona Graduate School of Economics in its series Working Papers with number 469.
Date of creation: Jun 2010
Date of revision:
Monetary policy strategy; two pillar strategy; monetarism; financial stability;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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[Management and Efficiency of the Economic Policies : The Crisis' Lessons"]," MPRA Paper 31223, University Library of Munich, Germany.
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