English, Article edition: The ECB and the Euro Agnes Benassy-Quere

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Bookmark: http://trove.nla.gov.au/version/160072
Physical Description
  • article
Language
  • English

Edition details

Title
  • The ECB and the Euro
Author
  • Agnes Benassy-Quere
Physical Description
  • article
Notes
  • The effectiveness with which central banks can correct exchange rate levels or reduce instability is much debated. The main condition for such intervention being successful is that it is coherent with macroeconomic policy. From this point of view, the joint involvement of the European Council and the ECB in setting the exchange rate policy of the euro would appear to be sensible. But, its application will be difficult, given the constraints and the different objectives of both institutions. The principles for coordinating monetary and fiscal policy should be set out clearly if the capacity for the ECB to intervene is not to be inhibited.
  • RePEc:cii:cepill:1999-182
Language
  • English
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