Faculty of Economics and Business Administration Publications Database

The European Central Bank

Abstract: The establishment of the European Central Bank (ECB) and with it the launch of the euro has arguably been a unique endeavour in economic history, representing an experiment of hitherto unknown magnitude in central banking. This article aims to describe the main aspects of the set-up and the responsibilities, strategy and operations of the ECB. It also aims to summarize some of the main lessons learned from the establishment of the ECB for monetary economics, and to sketch some of the prospects for the ECB and the euro.
Keywords: Budget Deficits; Business Cycles; EMU; Euro; ECB; ESCB; Euro Area; ERM; Globalization; HIPC; Inflation
Year: 2008
Link External Source: Online Version
Book Title: The New Palgrave Dictionary of Economics
ISBN: 978-0333786765
Adress: London 2008
Editor: Durlauf, Steven N. / Blume, Lawrence E.
Publisher: Macmillan