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The Independent European Central Bank: A PKE Perspective

In: Money, Pricing, Distribution and Economic Integration

Author

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  • Philip Arestis

    (University of East London)

Abstract

This chapter questions the assumptions underlying the economic case for an independent European central bank (IECB). Discussion of the IECB typically conflates the issue of independence with the brief that will be given to the bank, namely the single-minded pursuit of price stability in the European Union (EU). In what follows we assume that the bank will follow that brief, as established in Delors (1989) and EC (1992b).

Suggested Citation

  • Philip Arestis, 1997. "The Independent European Central Bank: A PKE Perspective," Palgrave Macmillan Books, in: Money, Pricing, Distribution and Economic Integration, chapter 6, pages 105-120, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37448-5_7
    DOI: 10.1057/9780230374485_7
    as

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