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Proper conduct of monetary policy requires understanding the monetary transmission mechanism, to monitor the economy, make decisions on the stance of policy, and explain the policy actions to the public. Hence, gathering evidence on the monetary transmission mechanism in the euro area has been a priority for the Eurosystem. This 2003 book presents the results of a multi-year collaborative project conducted by the European Central Bank and the other Eurosystem central banks. First, macro data are consistently investigated with both VARs and structural models for the area as a whole and for individual countries. Second, the book contains an unprecedented set of studies on the effects of monetary policy using bank and firm panel data. The results described in country case studies and overview essays by central bank economists, along with a discussion chapter by eminent academics, provide an essential contribution to research on the subject.

Euro. --- Monetary policy --- Transmission mechanism (Monetary policy). --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- 334.151.1 --- 334.151.20 --- 334.151.21 --- -Transmission mechanism (Monetary policy) --- Euro --- 332.494 --- Ue5.g --- Money --- Monetary transmission mechanism --- Monetary management --- Economic policy --- Currency boards --- Money supply --- EG : economisch en monetair beleid. --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden. --- Europese centrale bank. ESCB. Centrale banken. --- Transmission mechanism (Monetary policy) --- EG : economisch en monetair beleid --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden --- Europese centrale bank. ESCB. Centrale banken --- Business, Economy and Management --- Economics --- Monetary policy - European Union countries

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Economic and Monetary Union (EMU) is one of the most important developments in modern European politics. Building on two decades of monetary integration it transfers monetary policy, a core function of the modern state, to an independent European Central Bank (ECB) and limits member states' fiscal policy discretion. The ECB insists that growth and employment depend on 'flexibilizing' Europe's labor markets through deep reforms of the social policies and employment relations which comprise the 'European social model'. Member states retain authority over these areas at the heart of national politics, but how will EMU affect the domestic politics of institutional change? Will EMU reinforce de-regulation and retrenchment or will it facilitate reforms that maintain the protections against economic insecurity, inequality, and unilateral employer power the European model has provided? To address these questions, a transatlantic team of leading experts analyzes the evolving tensions between monetary integration and national social policies.

Euro --- Euro. --- Monetary unions --- Euro (Monnaie) --- Unions monétaires --- European Union countries --- Pays de l'Union européenne --- Social policy. --- Politique sociale --- #SBIB:327.7H231 --- 334.151.1 --- 334.151.20 --- 334.151.21 --- 334.151.50 --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- -332.494 --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Money --- Europese Unie: sociaal-economisch beleid, landbouw-, milieu-, cultuur- en communicatiebeleid --- EG : economisch en monetair beleid. --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden. --- Europese centrale bank. ESCB. Centrale banken. --- Sociaal beleid : algemeenheden. --- -EU countries --- Euroland --- Europe --- Social policy --- -Social policy --- Unions monétaires --- Pays de l'Union européenne --- 332.494 --- EG : economisch en monetair beleid --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden --- Europese centrale bank. ESCB. Centrale banken --- Sociaal beleid : algemeenheden --- Social Sciences --- Political Science

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How and for whose benefit the European Central Bank (ECB) will work is the most important issue facing Europe, and has been the subject of vast media and academic interest which has already spawned a vast literature of discussion papers in the academic literature, and 'Euro Watch' features. Much of this discussion has been of an increasingly hysterical and political nature and has served to blur rather than inform. This book, written by a team at the ECB, including Otmar Issing the ECB's Chief Economist, provides the first comprehensive, inside, non-technical analysis of the monetary policy strategy, institutional features and operational procedures of the Eurosystem. The goals and the transmission mechanism of monetary policy are explored, as are the theoretical and empirical results underpinning the 'stability-oriented monetary policy strategy' adopted by the ECB. The characteristics of this strategy are also discussed in comparison with suggested alternatives.

Monetary policy --- European Central Bank --- Monetary policy. --- Monetary policy - Europe. --- Money --- Finance --- Business & Economics --- European Central Bank. --- Monetary management --- Economic policy --- Currency boards --- Money supply --- ECB --- Banque centrale européenne --- BCE --- Banco Central Europeo --- Banca centrale europea --- Europäische Zentralbank --- Európska centrálna banka --- E-books --- -banque centrale europeenne --- politique monetaire --- union europeenne --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- 334.151.1 --- 334.151.21 --- 333.820 --- -Monetary policy --- -332.494 --- Ue5.2 --- europese centrale bank --- monetair beleid --- europese unie --- EG : economisch en monetair beleid. --- Europese centrale bank. ESCB. Centrale banken. --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- Business, Economy and Management --- Economics --- 332.494 --- banque centrale europeenne --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- EG : economisch en monetair beleid --- Europese centrale bank. ESCB. Centrale banken --- EZB --- BUSINESS & ECONOMICS --- Electronic books --- Monetaire politiek --- Europese Centrale Bank --- Euro --- Europese Unie --- Geldpolitik --- Aufsatzsammlung --- Politique mon etaire --- Zone euro --- Money & Monetary Policy --- Europ aische Zentralbank. --- Banque centrale europ eenne. --- Europ aische Union. --- Europa --- Pol itica monetaria. --- Banco Central Europeo. --- Monetary policy - Europe

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The work evaluates the policy problem of the Euro area from various fields, such as monetary, fiscal and exchange rate policy, and applies recently developed econometric techniques to empirical analysis.

European Central Bank. --- -Euro area --- 339.53094 --- Geldpolitik. --- Euro (W ahrung) --- Economic Conditions. --- Europ aische Zentralbank. --- Monetary policy --- Euro area. --- Euro area --- Euro zone --- Monetary unions --- ECB --- Banque centrale européenne --- BCE --- Banco Central Europeo --- Banca centrale europea --- Europäische Zentralbank --- Európska centrálna banka --- Eurozone --- E-books --- 334.151.1 --- 334.151.21 --- 334.151.25 --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- EG : economisch en monetair beleid --- Europese centrale bank. ESCB. Centrale banken --- Rekeneenheid, gemeenschappelijke munt van de Europese Gemeenschappen. ECU. Euro --- Eurozone. --- EZB --- BUSINESS & ECONOMICS --- POLITICAL SCIENCE --- Geldpolitik --- Economics&delete& --- Macroeconomics --- Economic Conditions

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This book examines monetary policy by focusing on how the President and the Senate influence monetary policy by appointing Federal Reserve members. It attempts to answer three questions about the appointment process and its effects. First, do politicians influence monetary policy through Federal Reserve appointments? Second, who influences the process - the President alone or both the President and the Senate? Third, what explains the structure of the Federal Reserve appointment process? The test models show that the President alone, both the President and Senate, or neither, may influence monetary policy with Federal Reserve appointments. The structure of the process reflects political battles between the Democrats and Republicans regarding the centralization of authority to set monetary policy within the Federal Reserve System. The study extends the analysis to the European Central Bank and shows that the Federal Reserve process is more representative of society than the European Central Bank process.

Banques de la Réserve fédérale --- Federal Reserve banks --- Federale Reservebanken --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 333.820 --- 334.151.1 --- 341.246 --- Banks and banking, Central --- -Banks and banking, Central --- -Monetary policy --- -332.494 --- Banks of issue --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- EG : economisch en monetair beleid. --- Internationale monetaire akkoorden. --- Economic and Monetary Union. --- EMU --- WWU --- Europäische Wirtschafts- und Währungsunion --- Unión Económica y Monetaria Europea --- Oikonomikē kai Nomismatikē Henōsē --- ONE --- European Monetary Union --- Talous- ja rahaliitto --- Unione monetaria --- Euroopan talous- ja rahaliitto --- Rahaliitto --- European Economic and Monetary Union --- UME --- Unione monetaria europea --- EWWU --- Unión Monetaria Europea --- Ekonomiska och monetära unionen --- Union monétaire européenne --- Union économique et monétaire européenne --- UEM --- Unia Gospodarcza i Walutowa --- Money. Monetary policy --- Economic and monetary union --- Banks and banking [Central ] --- Europe --- United States --- Monetary policy --- 332.494 --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- EG : economisch en monetair beleid --- Internationale monetaire akkoorden --- Social Sciences --- Political Science --- Federal Reserve banks.