How to normalize monetary policy in the euro area:
Since 2014 the ECB has implemented a massive expansion of monetary policy including large-scale asset purchases and negative policy rates. As the euro area economy has improved and inflation has risen, questions concerning the future normalization of monetary policy are starting to dominate the publ...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Frankfurt am Main
Institute for Monetary and Financial Stability, Goethe University Frankfurt am Main
2017
|
| Series: | Working paper series
no. 115 (2017) |
| Online Access: | Volltext http://www.imfs-frankfurt.de/en/research/imfs-working-papers/details.html?tx_mmpublications_publicationsdetail%5Bpublication%5D=135&tx_mmpublications_publicationsdetail%5Bcontroller%5D=Publication&cHash=763b8c4bf4cb9f6b45705c048a29fa46 http://www.imfs-frankfurt.de/fileadmin/user_upload/IMFS_WP_115.pdf |
| Summary: | Since 2014 the ECB has implemented a massive expansion of monetary policy including large-scale asset purchases and negative policy rates. As the euro area economy has improved and inflation has risen, questions concerning the future normalization of monetary policy are starting to dominate the public debate. The study argues that the ECB should develop a strategy for policy normalization and communicate it very soon to prepare the ground for subsequent steps towards tightening. It provides analysis and makes proposals concerning key aspects of this strategy. The aim is to facilitate the emergence of expectations among market participants that are consistent with a smooth process of policy normalization. |
| Physical Description: | 1 Online-Resource (ca. 47 Seiten) Diagramme |
Staff View
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| spelling | Beck, Günter W. Verfasser (DE-588)129167142 aut How to normalize monetary policy in the euro area Guenter W. Beck, Volker Wieland Frankfurt am Main Institute for Monetary and Financial Stability, Goethe University Frankfurt am Main 2017 1 Online-Resource (ca. 47 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier Working paper series no. 115 (2017) Since 2014 the ECB has implemented a massive expansion of monetary policy including large-scale asset purchases and negative policy rates. As the euro area economy has improved and inflation has risen, questions concerning the future normalization of monetary policy are starting to dominate the public debate. The study argues that the ECB should develop a strategy for policy normalization and communicate it very soon to prepare the ground for subsequent steps towards tightening. It provides analysis and makes proposals concerning key aspects of this strategy. The aim is to facilitate the emergence of expectations among market participants that are consistent with a smooth process of policy normalization. Wieland, Volker 1966- Sonstige (DE-588)12495250X oth http://hdl.handle.net/10419/168566 Volltext http://www.imfs-frankfurt.de/en/research/imfs-working-papers/details.html?tx_mmpublications_publicationsdetail%5Bpublication%5D=135&tx_mmpublications_publicationsdetail%5Bcontroller%5D=Publication&cHash=763b8c4bf4cb9f6b45705c048a29fa46 http://www.imfs-frankfurt.de/fileadmin/user_upload/IMFS_WP_115.pdf |
| spellingShingle | Beck, Günter W. How to normalize monetary policy in the euro area |
| title | How to normalize monetary policy in the euro area |
| title_auth | How to normalize monetary policy in the euro area |
| title_exact_search | How to normalize monetary policy in the euro area |
| title_full | How to normalize monetary policy in the euro area Guenter W. Beck, Volker Wieland |
| title_fullStr | How to normalize monetary policy in the euro area Guenter W. Beck, Volker Wieland |
| title_full_unstemmed | How to normalize monetary policy in the euro area Guenter W. Beck, Volker Wieland |
| title_short | How to normalize monetary policy in the euro area |
| title_sort | how to normalize monetary policy in the euro area |
| url | http://hdl.handle.net/10419/168566 http://www.imfs-frankfurt.de/en/research/imfs-working-papers/details.html?tx_mmpublications_publicationsdetail%5Bpublication%5D=135&tx_mmpublications_publicationsdetail%5Bcontroller%5D=Publication&cHash=763b8c4bf4cb9f6b45705c048a29fa46 http://www.imfs-frankfurt.de/fileadmin/user_upload/IMFS_WP_115.pdf |
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