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The ECB's conundrum and 21st century monetary policy: How European monetary policy can be green, social and democratic

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  • van 't Klooster, Jens

Abstract

The ECB’s mandate was drafted 30 years ago and focuses narrowly on preventing inflation. As a consequences, the ECB lacks clear democratic guidance concerning the challenges it faces today: how to deal with government debt and what to do to fight climate change. This lack of guidance undermines the legitimacy of its choices and the effectiveness of its programmes. The EU’s political institutions can solve the ECB’s conundrum by providing it with renewed democratic authorisation.

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  • van 't Klooster, Jens, 2021. "The ECB's conundrum and 21st century monetary policy: How European monetary policy can be green, social and democratic," SocArXiv f25td, Center for Open Science.
    • Handle: RePEc:osf:socarx:f25td
    DOI: 10.31219/osf.io/f25td
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    Cited by:

    1. Saori Katada, 2023. "Political Economy shaped by Financialization," Working Papers hal-04136349, HAL.
    2. Egerer, Elsa, 2023. "Eine wirkungsorientierte Finanzmarktstrategie zur Reduktion von Treibhausgasemissionen – Ergebnisse aus dem FIRN-Projekt," OSF Preprints ujvpm, Center for Open Science.

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