Fundamentals of Monetary Policy in the Euro Area

Dieter GerdesmeierFundamentals of Monetary Policy in the Euro Area Concepts – Markets – Institutions Download free books at... Download free eBooks at bookboon.com2 Prof.. Dr Dieter Gerd

Prof Dr Dieter Gerdesmeier

Fundamentals of Monetary Policy in the Euro Area

Concepts – Markets – Institutions

Download free books at

Download free eBooks at bookboon.com

2

Prof Dr Dieter Gerdesmeier

Fundamentals of Monetary Policy in the Euro Area

Concepts – Markets – Institutions

Download free eBooks at bookboon.com

3

Fundamentals of Monetary Policy in the Euro Area: Concepts – Markets – Institutions

2nd edition

© 2014 Prof Dr Dieter Gerdesmeier & bookboon.com

ISBN 978-87-403-0763-4

Download free eBooks at bookboon.com

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Fundamentals of Monetary Policy

in the Euro Area

4

Contents

2.1 Learning objectives 15

2.2 Some economic concepts 15

2.3 Some statistical concepts 16

3.1 Learning objectives 20

3.2 he roadmap to EMU 20

3.3 Convergence criteria 22

3.4 he concept of an optimal currency area 24

3.5 Advantages and disadvantages of a monetary union 25

3.6 Some controversies about the road 27

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Fundamentals of Monetary Policy

in the Euro Area

5

4.1 Learning objectives 28

4.2 he European Union 28

4.3 he European Central Bank 29

4.4 Presidents of the European Central Bank 30

4.5 he Rise of the Euro 32

4.6 A closer look at the U.S Federal Reserve System 33

4.7 A closer look at the Bank of Japan 34

4.8 A closer look at the Bank of England 34

4.9 Decision-making modalities 35

4.10 Independence and accountability 36

5.1 Learning objectives 41

5.2 Basic concepts 41

5.3 Efects of inlation 41

5.4 Measuring inlation 43

5.5 Core and non-core inlation 44

5.6 Measurement problems 45

5.8 Sacriice ratios 48

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