Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/146880 
Authors: 
Year of Publication: 
2016
Series/Report no.: 
SAFE White Paper No. 42
Publisher: 
Goethe University Frankfurt, SAFE - Sustainable Architecture for Finance in Europe, Frankfurt a. M.
Abstract: 
"Institutional Overburdening" to a large extent was a consequence of the "Great Moderation". This term indicates that it was a period in which inflation had come down from rather high levels. Growth and employment were at least satisfying and variability of output had substantially declined. It was almost unavoidable that as a consequence expectations on future actions of central banks and their ability to control the economy reached an unprecedented peak which was hardly sustainable. Institutional overburdening has two dimensions. One is coming from exaggerated expectations on what central banks can achieve ("expectational overburdening"). The other dimension is "operational overburdening" i.e. overloading the central bank with more and more responsibilities and competences.
Subjects: 
Central Banking
ECB
Monetary Policy
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
542.09 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.