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Conventional Monetary Policy of the ECB

In: Monetary Integration in Europe

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  • Horst Tomann

    (Freie Universitaet (FU) Berlin)

Abstract

Chapter 4 analyses how European monetary policy works. Firstly, it briefly looks at theory to understand how monetary impulses are transmitted and how they affect the economy. Secondly, it discusses different monetary policy concepts that are derived from theory and that provide indicators for orientation. Finally, against this background, the conventional monetary policy strategy of the European Central Bank is evaluated. Five phases of main refinancing operations have to be distinguished that formed the core of conventional monetary policy until 2008.

Suggested Citation

  • Horst Tomann, 2017. "Conventional Monetary Policy of the ECB," Studies in Economic Transition, in: Monetary Integration in Europe, edition 2, chapter 4, pages 55-79, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-319-59247-3_4
    DOI: 10.1007/978-3-319-59247-3_4
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