Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/336684 
Autor:innen: 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
Working Paper No. 1
Verlag: 
University of Athens, Department of Economics, International Economics and Development Laboratory (IEDL), Athens
Zusammenfassung: 
This paper revisits the evolving mandates of central banks in light of recent economic disruptions and structural shifts. Drawing on historical lessons from the Great Inflation and the Global Financial Crisis, it highlights the importance of price stability and central bank independence as foundational principles. The analysis focuses on the European Central Bank's (ECB) updated monetary policy strategy, emphasizing its mediumterm orientation, symmetric inflation target, and enhanced responsiveness to uncertainty. The paper also explores the broader role of central banks in supporting financial stability and addressing emerging challenges such as climate risk, digitalization, and geopolitical fragmentation. It argues that while central banks must remain anchored in their primary objective of price stability, their mandates should adapt to reinforce resilience and support sustainable growth. The conclusion calls for deeper institutional integration in the euro area to amplify the effectiveness of monetary policy and strengthen the international role of the euro.
Schlagwörter: 
Central Bank Mandates
Price Stability
Monetary Policy Strategy
Financial Stability
Institutional Integration in the Euro Area
JEL: 
E52
E58
E61
Dokumentart: 
Working Paper

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