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The European Central Bank: targets, strategies and behaviour

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  • G. Verga

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Abstract

This paper describes the monetary policy of the European Central Bank. The analysis, entirely based on an investigation of the Bank's own documents, suggests that the ECB's monetary policy strategy is rather complex, but consistent with the objectives of the Maastricht Treaty. The Bank allows itself some room for maneuver, and its decisions are based on signs from many variables (including money and exchange rates) and not only on its estimates of inflation. Although the primary objective is price stability, the ECB tries as far as possible not to neglect the real sector.

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Bibliographic Info

Paper provided by Department of Economics, Parma University (Italy) in its series Economics Department Working Papers with number 2000-EP00.

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Length: 54 pages
Date of creation: 2000
Date of revision:
Publication status: Published in Rivista Internazionale di Scienze Sociali, July-Sept. 1999, v.107, iss. 3, pp. 327-81
Handle: RePEc:par:dipeco:2000-ep00

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