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Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
Working Paper No. 428
Verlag: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Zusammenfassung: 
This paper provides an overview of central banking arrangements in those European countries that have adopted the euro. Issues addressed include the structure of the Eurosystem and its central banking functions, the kind of independence granted to the system and the role of monetary policy that central bankers have adopted for themselves, the two-pillar policy framework, operating procedures, and actual performance since the euro's launch in 1999. The analysis concludes that, given the current macroeconomic policy regime, trends, and practices, the euro is on track for failure.
Schlagwörter: 
Central banking
monetary policy
European Central Bank
Eurosystem
central bank independence
policy strategy
operating procedure
JEL: 
E42
E58
E61
E65
Dokumentart: 
Working Paper

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