Monetary policy in stage three: a review
β
Peter B. Kenen
π
Article
π
1998
π
John Wiley and Sons
π
English
β 153 KB
If the European Central Bank (ECB) adopts the proposals of the European Monetary Institute, the formulation of monetary policy for the euro area will be centralized but its implementation will be decentralized. The ECB will probably employ both inflation and monetary targets and use policy instrumen