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Challenges ahead for EMU monetary policy

Author

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  • Christophe Blot

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Jérôme Creel

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Paul Hubert

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

With the economic slowdown in the euro area, questions arise as to whether the ECB retains some economic and political margins for manoeuvre after a decade of active policies. In this note, we highlight three possible monetary policy developments. We discuss their pros and cons according to four dimensions: political constraints, technical constraints, independence and interactions with fiscal policy.

Suggested Citation

  • Christophe Blot & Jérôme Creel & Paul Hubert, 2019. "Challenges ahead for EMU monetary policy," Working Papers hal-03403244, HAL.
    • Handle: RePEc:hal:wpaper:hal-03403244
    DOI: 10.2861/370796
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03403244
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