The Performance of the European Central Bank

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Show simple item record ARTIS, Michael J. en 2006-05-18T11:48:28Z 2006-05-18T11:48:28Z 2005 en 2005 en
dc.identifier.citation International Review of Applied Economics, 2005, 16, 1, 19-29 en
dc.description.abstract The European Monetary Union has been in operation since 1 January 1999. The paper offers an interim assessment of the operations of the European Central Bank (ECB) during this period. It describes how the ECB defined its monetary strategy and carried out its policy. The evaluation offered in the paper is largely positive, the principal objects of criticism being found to stem from the constitution which defines the position and principal objective of the ECB. This constitution embodies an extreme version of Central Bank independence and creates a "democratic deficit" in consequence. Albeit the operating record is not without some blemishes, for example in regard to the ECB"s communication policy. So far, the ECB has benefitted from a favourable macroeconomic conjuncture. This has changed and a more testing time may now be in store. en
dc.language.iso en en
dc.relation.ispartof International Review of Applied Economics
dc.title The Performance of the European Central Bank en
dc.type Article en
dc.neeo.contributor ARTIS|Michael J.|aut|
dc.identifier.volume 16
dc.identifier.startpage 19
dc.identifier.endpage 29

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