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The interaction of monetary and financial tasks in different central bank structures

In: Central Banks and Supervisory Architecture in Europe

Author

Listed:
  • Aerdt Houben
  • Jan Kakes
  • Annelie Petersen

Abstract

This article describes how the institutional set-up of monetary and financial tasks differs across Europe. It discusses how these policies interact and pros and cons of central bank involvement. A prominent central bank role improves operational synergies, oversight and policy coordination but may also involve conflicts of interests, concentration of power and reputation risk. Finally, this article presents some preliminary thoughts on the policy response to the COVID pandemic in 2020.

Suggested Citation

  • Aerdt Houben & Jan Kakes & Annelie Petersen, 2022. "The interaction of monetary and financial tasks in different central bank structures," Chapters, in: Robert Holzmann & Fernando Restoy (ed.), Central Banks and Supervisory Architecture in Europe, chapter 7, pages 71-82, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21354_7
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    Keywords

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    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
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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