The European Central Bank:
The European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political imp...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Newcastle upon Tyne :
Agenda Publishing,
2021.
|
| Schriftenreihe: | Finance matters (Newcastle upon Tyne, England)
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political implications thereof.<br><br>This book sets out the history, development and day-to-day workings of this key institutional pillar of the European Union. It assesses its work, independence, the policies and instruments at its disposal and the evolution of its role during, and after, the eurozone crisis of 2010. Incomplete monetary union, Germany's hegemonic ambitions and different economic policies from individual member countries are shown to pose formidable challenges to the ECB's macroeconomic management. |
| Beschreibung: | 1 online resource. |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9781788212977 1788212975 9781788212960 1788212967 |
Internformat
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| 245 | 1 | 4 | |a The European Central Bank |h [electronic resource] / |c Michael Heine and Hansjorg Herr. |
| 264 | 1 | |a Newcastle upon Tyne : |b Agenda Publishing, |c 2021. | |
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| 520 | |a The European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political implications thereof.<br><br>This book sets out the history, development and day-to-day workings of this key institutional pillar of the European Union. It assesses its work, independence, the policies and instruments at its disposal and the evolution of its role during, and after, the eurozone crisis of 2010. Incomplete monetary union, Germany's hegemonic ambitions and different economic policies from individual member countries are shown to pose formidable challenges to the ECB's macroeconomic management. | ||
| 504 | |a Includes bibliographical references and index. | ||
| 505 | 8 | |a Tables and figures -- Preface -- 1 Introduction: European integration -- 2 From the Bretton Woods system to European Monetary Union -- Exchange rate turbulence since the end of the 1960s -- The European Monetary System -- 3 The Maastricht Treaty and the Stability and Growth Pact -- The Maastricht Treaty -- The Maastricht criteria -- The Stability and Growth Pact (SGP) -- 4 Structure, political and legal framework of the European Central Bank -- The organizational structure of the European System of Central Banks -- The independence of central banks and the ECB -- Prohibition of direct financing of public budgets -- Personal independence -- Financial independence -- Target independence -- Exchange rate policy -- Instrument independence -- Accountability and transparency -- Legal foundations of independence -- Summary -- 5 Preconditions for a stable monetary union -- Summary -- 6 The failure of the two-pillar strategy of the ECB and the revival of Wicksell -- Money in the Keynesian tradition -- The two-pillar strategy of the ECB -- Monetary policy in the tradition of Knut Wicksell -- 7 Increasing economic fragility IN THE EMU before the financial crisis -- Interest rates, asset bubbles and GDP growth -- Wages, unit labour costs and prices -- Current account imbalances -- Fiscal policy -- Different macroeconomic regimes in the EMU -- Summary -- 8 Monetary policy during the Great Recession -- The financial market crisis and Great Recession in the EMU -- The monetary policy response -- Fiscal policy and bank bailouts -- Summary -- 9 Monetary policy and the escalation of the euro crisis until 2012 -- No comprehensive lender of last resort for public households -- The ECB's monetary policy -- Limited help for public households -- Target2-balances -- Interest rate policy -- The special case of Ireland -- Summary -- 10 The ECB holds the euro together -- The ECB as lender of last resort for public budgets -- Zero interest rates and quantitative easing -- Fiscal policy, current account and wage development -- Comparison with the Fed's monetary policy -- Summary -- 11 The fiscal policy framework in the EMU: no partner for the ECB -- The German debt brake -- European Semester: reform of the SGP, Sixpack, Fiscal Compact and Twopack -- Sixpack -- Fiscal Compact -- Twopack -- European Semester -- Summary -- 12 Financial market supervision, Banking Union and financial market regulation -- The new structure of financial market supervision in EMU -- The European Banking Union -- New rules in the regulation of the financial markets -- Assessment of the financial market reforms -- 13 The Covid-19 crisis and its effects on the EMU -- Monetary policy measures in the Covid-19 crisis -- Country-specific fiscal crisis management -- Fiscal policy in the EU. | |
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| author | Heine, Michael Herr, Hansjörg, 1951- |
| author_GND | http://id.loc.gov/authorities/names/n87931092 |
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| contents | Tables and figures -- Preface -- 1 Introduction: European integration -- 2 From the Bretton Woods system to European Monetary Union -- Exchange rate turbulence since the end of the 1960s -- The European Monetary System -- 3 The Maastricht Treaty and the Stability and Growth Pact -- The Maastricht Treaty -- The Maastricht criteria -- The Stability and Growth Pact (SGP) -- 4 Structure, political and legal framework of the European Central Bank -- The organizational structure of the European System of Central Banks -- The independence of central banks and the ECB -- Prohibition of direct financing of public budgets -- Personal independence -- Financial independence -- Target independence -- Exchange rate policy -- Instrument independence -- Accountability and transparency -- Legal foundations of independence -- Summary -- 5 Preconditions for a stable monetary union -- Summary -- 6 The failure of the two-pillar strategy of the ECB and the revival of Wicksell -- Money in the Keynesian tradition -- The two-pillar strategy of the ECB -- Monetary policy in the tradition of Knut Wicksell -- 7 Increasing economic fragility IN THE EMU before the financial crisis -- Interest rates, asset bubbles and GDP growth -- Wages, unit labour costs and prices -- Current account imbalances -- Fiscal policy -- Different macroeconomic regimes in the EMU -- Summary -- 8 Monetary policy during the Great Recession -- The financial market crisis and Great Recession in the EMU -- The monetary policy response -- Fiscal policy and bank bailouts -- Summary -- 9 Monetary policy and the escalation of the euro crisis until 2012 -- No comprehensive lender of last resort for public households -- The ECB's monetary policy -- Limited help for public households -- Target2-balances -- Interest rate policy -- The special case of Ireland -- Summary -- 10 The ECB holds the euro together -- The ECB as lender of last resort for public budgets -- Zero interest rates and quantitative easing -- Fiscal policy, current account and wage development -- Comparison with the Fed's monetary policy -- Summary -- 11 The fiscal policy framework in the EMU: no partner for the ECB -- The German debt brake -- European Semester: reform of the SGP, Sixpack, Fiscal Compact and Twopack -- Sixpack -- Fiscal Compact -- Twopack -- European Semester -- Summary -- 12 Financial market supervision, Banking Union and financial market regulation -- The new structure of financial market supervision in EMU -- The European Banking Union -- New rules in the regulation of the financial markets -- Assessment of the financial market reforms -- 13 The Covid-19 crisis and its effects on the EMU -- Monetary policy measures in the Covid-19 crisis -- Country-specific fiscal crisis management -- Fiscal policy in the EU. |
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| dewey-sort | 3332.11094 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| geographic | European Union countries fast |
| geographic_facet | European Union countries |
| id | ZDB-4-EBA-on1227270190 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:30:09Z |
| institution | BVB |
| isbn | 9781788212977 1788212975 9781788212960 1788212967 |
| language | English |
| oclc_num | 1227270190 |
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| physical | 1 online resource. |
| psigel | ZDB-4-EBA |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | Agenda Publishing, |
| record_format | marc |
| series | Finance matters (Newcastle upon Tyne, England) |
| series2 | Finance matters |
| spelling | Heine, Michael, author. The European Central Bank [electronic resource] / Michael Heine and Hansjorg Herr. Newcastle upon Tyne : Agenda Publishing, 2021. 1 online resource. text txt rdacontent computer c rdamedia online resource cr rdacarrier Finance matters The European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political implications thereof.<br><br>This book sets out the history, development and day-to-day workings of this key institutional pillar of the European Union. It assesses its work, independence, the policies and instruments at its disposal and the evolution of its role during, and after, the eurozone crisis of 2010. Incomplete monetary union, Germany's hegemonic ambitions and different economic policies from individual member countries are shown to pose formidable challenges to the ECB's macroeconomic management. Includes bibliographical references and index. Tables and figures -- Preface -- 1 Introduction: European integration -- 2 From the Bretton Woods system to European Monetary Union -- Exchange rate turbulence since the end of the 1960s -- The European Monetary System -- 3 The Maastricht Treaty and the Stability and Growth Pact -- The Maastricht Treaty -- The Maastricht criteria -- The Stability and Growth Pact (SGP) -- 4 Structure, political and legal framework of the European Central Bank -- The organizational structure of the European System of Central Banks -- The independence of central banks and the ECB -- Prohibition of direct financing of public budgets -- Personal independence -- Financial independence -- Target independence -- Exchange rate policy -- Instrument independence -- Accountability and transparency -- Legal foundations of independence -- Summary -- 5 Preconditions for a stable monetary union -- Summary -- 6 The failure of the two-pillar strategy of the ECB and the revival of Wicksell -- Money in the Keynesian tradition -- The two-pillar strategy of the ECB -- Monetary policy in the tradition of Knut Wicksell -- 7 Increasing economic fragility IN THE EMU before the financial crisis -- Interest rates, asset bubbles and GDP growth -- Wages, unit labour costs and prices -- Current account imbalances -- Fiscal policy -- Different macroeconomic regimes in the EMU -- Summary -- 8 Monetary policy during the Great Recession -- The financial market crisis and Great Recession in the EMU -- The monetary policy response -- Fiscal policy and bank bailouts -- Summary -- 9 Monetary policy and the escalation of the euro crisis until 2012 -- No comprehensive lender of last resort for public households -- The ECB's monetary policy -- Limited help for public households -- Target2-balances -- Interest rate policy -- The special case of Ireland -- Summary -- 10 The ECB holds the euro together -- The ECB as lender of last resort for public budgets -- Zero interest rates and quantitative easing -- Fiscal policy, current account and wage development -- Comparison with the Fed's monetary policy -- Summary -- 11 The fiscal policy framework in the EMU: no partner for the ECB -- The German debt brake -- European Semester: reform of the SGP, Sixpack, Fiscal Compact and Twopack -- Sixpack -- Fiscal Compact -- Twopack -- European Semester -- Summary -- 12 Financial market supervision, Banking Union and financial market regulation -- The new structure of financial market supervision in EMU -- The European Banking Union -- New rules in the regulation of the financial markets -- Assessment of the financial market reforms -- 13 The Covid-19 crisis and its effects on the EMU -- Monetary policy measures in the Covid-19 crisis -- Country-specific fiscal crisis management -- Fiscal policy in the EU. European Central Bank. http://id.loc.gov/authorities/names/n95055518 European Central Bank fast Banks and banking, Central Europe Union countries. Monetary policy European Union countries. Politique monétaire Pays de l'Union européenne. Banks and banking, Central fast Monetary policy fast European Union countries fast Herr, Hansjörg, 1951- author. https://id.oclc.org/worldcat/entity/E39PCjG86XHWWDjjcwmdQmK68C http://id.loc.gov/authorities/names/n87931092 Print version: 1788212959 9781788212953 9781788212946 1788212940 (OCoLC)1156387923 Finance matters (Newcastle upon Tyne, England) http://id.loc.gov/authorities/names/no2020125673 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=2708045 Volltext |
| spellingShingle | Heine, Michael Herr, Hansjörg, 1951- The European Central Bank Finance matters (Newcastle upon Tyne, England) Tables and figures -- Preface -- 1 Introduction: European integration -- 2 From the Bretton Woods system to European Monetary Union -- Exchange rate turbulence since the end of the 1960s -- The European Monetary System -- 3 The Maastricht Treaty and the Stability and Growth Pact -- The Maastricht Treaty -- The Maastricht criteria -- The Stability and Growth Pact (SGP) -- 4 Structure, political and legal framework of the European Central Bank -- The organizational structure of the European System of Central Banks -- The independence of central banks and the ECB -- Prohibition of direct financing of public budgets -- Personal independence -- Financial independence -- Target independence -- Exchange rate policy -- Instrument independence -- Accountability and transparency -- Legal foundations of independence -- Summary -- 5 Preconditions for a stable monetary union -- Summary -- 6 The failure of the two-pillar strategy of the ECB and the revival of Wicksell -- Money in the Keynesian tradition -- The two-pillar strategy of the ECB -- Monetary policy in the tradition of Knut Wicksell -- 7 Increasing economic fragility IN THE EMU before the financial crisis -- Interest rates, asset bubbles and GDP growth -- Wages, unit labour costs and prices -- Current account imbalances -- Fiscal policy -- Different macroeconomic regimes in the EMU -- Summary -- 8 Monetary policy during the Great Recession -- The financial market crisis and Great Recession in the EMU -- The monetary policy response -- Fiscal policy and bank bailouts -- Summary -- 9 Monetary policy and the escalation of the euro crisis until 2012 -- No comprehensive lender of last resort for public households -- The ECB's monetary policy -- Limited help for public households -- Target2-balances -- Interest rate policy -- The special case of Ireland -- Summary -- 10 The ECB holds the euro together -- The ECB as lender of last resort for public budgets -- Zero interest rates and quantitative easing -- Fiscal policy, current account and wage development -- Comparison with the Fed's monetary policy -- Summary -- 11 The fiscal policy framework in the EMU: no partner for the ECB -- The German debt brake -- European Semester: reform of the SGP, Sixpack, Fiscal Compact and Twopack -- Sixpack -- Fiscal Compact -- Twopack -- European Semester -- Summary -- 12 Financial market supervision, Banking Union and financial market regulation -- The new structure of financial market supervision in EMU -- The European Banking Union -- New rules in the regulation of the financial markets -- Assessment of the financial market reforms -- 13 The Covid-19 crisis and its effects on the EMU -- Monetary policy measures in the Covid-19 crisis -- Country-specific fiscal crisis management -- Fiscal policy in the EU. European Central Bank. http://id.loc.gov/authorities/names/n95055518 European Central Bank fast Banks and banking, Central Europe Union countries. Monetary policy European Union countries. Politique monétaire Pays de l'Union européenne. Banks and banking, Central fast Monetary policy fast |
| subject_GND | http://id.loc.gov/authorities/names/n95055518 |
| title | The European Central Bank |
| title_auth | The European Central Bank |
| title_exact_search | The European Central Bank |
| title_full | The European Central Bank [electronic resource] / Michael Heine and Hansjorg Herr. |
| title_fullStr | The European Central Bank [electronic resource] / Michael Heine and Hansjorg Herr. |
| title_full_unstemmed | The European Central Bank [electronic resource] / Michael Heine and Hansjorg Herr. |
| title_short | The European Central Bank |
| title_sort | european central bank |
| topic | European Central Bank. http://id.loc.gov/authorities/names/n95055518 European Central Bank fast Banks and banking, Central Europe Union countries. Monetary policy European Union countries. Politique monétaire Pays de l'Union européenne. Banks and banking, Central fast Monetary policy fast |
| topic_facet | European Central Bank. European Central Bank Banks and banking, Central Europe Union countries. Monetary policy European Union countries. Politique monétaire Pays de l'Union européenne. Banks and banking, Central Monetary policy European Union countries |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=2708045 |
| work_keys_str_mv | AT heinemichael theeuropeancentralbank AT herrhansjorg theeuropeancentralbank AT heinemichael europeancentralbank AT herrhansjorg europeancentralbank |