The Future of European Monetary Integration

This article discusses the immediate and the longer-term future of monetary policy. It first reviews the policies adopted by central banks in the wake of the financial crisis, focusing on balance sheet policies and forward guidance, and then discusses the exit from these policies and the associated...

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Veröffentlicht in:	Atlantic economic journal 2014-09, Vol.42 (3), p.229-242
1. Verfasser:	Nowotny, Ewald
Format:	Artikel
Sprache:	eng
Schlagworte:	Balance of payments Balance sheets Central banks Economic crisis Economic models Economics Economics and Finance Europe European integration European Monetary System Federal Reserve monetary policy Financial crisis Fiscal policy Integration Interest rates International Economics Macroeconomics/Monetary Economics//Financial Economics Microeconomics Monetary policy Monetary theory Mortgage backed securities National banks Public Finance Studies Treasuries
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Beschreibung
Zusammenfassung:	This article discusses the immediate and the longer-term future of monetary policy. It first reviews the policies adopted by central banks in the wake of the financial crisis, focusing on balance sheet policies and forward guidance, and then discusses the exit from these policies and the associated challenges. Finally, an outlook on the possible long-term design of monetary policy is provided.
ISSN:	0197-4254 1573-9678
DOI:	10.1007/s11293-014-9420-8