Monetary management in a monetary union
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Monetary management in a monetary union. / Thygesen, Niels.
I: European Economic Review, Bind 35, Nr. 2/3, 1991, s. 474-483.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Monetary management in a monetary union
AU - Thygesen, Niels
PY - 1991
Y1 - 1991
N2 - The design and implementation of monetary policy in the EMU raises a number of difficult conceptual issues, though less complex than those of the transition. The Delors Report (1989) addressed three issues, in particular: (1) the appropriate mandate for the European system of Central Banks (ESCB): (2) the relationship of the ESCB to national and EEC political authorities, and (3) the accountability of the ESCB for its implementation of its mandate. The paper pays special attention to the interaction of these three issues. The Delors Report was less specific on the desing of instruments, and on the desirable degree of decentralization within the ESCB of operational and supervisory authority. Some preliminary reflections on these issues are found in the final section
AB - The design and implementation of monetary policy in the EMU raises a number of difficult conceptual issues, though less complex than those of the transition. The Delors Report (1989) addressed three issues, in particular: (1) the appropriate mandate for the European system of Central Banks (ESCB): (2) the relationship of the ESCB to national and EEC political authorities, and (3) the accountability of the ESCB for its implementation of its mandate. The paper pays special attention to the interaction of these three issues. The Delors Report was less specific on the desing of instruments, and on the desirable degree of decentralization within the ESCB of operational and supervisory authority. Some preliminary reflections on these issues are found in the final section
U2 - 10.1016/0014-2921(91)90149-D
DO - 10.1016/0014-2921(91)90149-D
M3 - Journal article
VL - 35
SP - 474
EP - 483
JO - European Economic Review
JF - European Economic Review
SN - 0014-2921
IS - 2/3
ER -
ID: 157991