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Euro Area Policies: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper analyzes euro area policies and discusses the implications of the 2007–08 financial sector turbulence for real economic activity. It examines the linkages between the financial and real sectors in the euro area. The paper discusses the European Central Bank’s (ECB) monetary analysis and the role of monetary aggregates in central banking, surveying the ongoing theoretical and empirical debate. The paper also describes the introduction of a “European Mandate” for financial sector authorities in the European Union (EU), a proposal that is under consideration by EU member states.

Suggested Citation

  • International Monetary Fund, 2008. "Euro Area Policies: Selected Issues," IMF Staff Country Reports 2008/263, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2008/263
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    References listed on IDEAS

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    1. Cassola, Nuno & Ejerskov, Steen & Ewerhart, Christian & Valla, Natacha, 2004. "Sporadic manipulation in money markets with central bank standing facilities," Working Paper Series 399, European Central Bank.
    2. Douglas W. Diamond & Raghuram G. Rajan, 2006. "Money in a Theory of Banking," American Economic Review, American Economic Association, vol. 96(1), pages 30-53, March.
    3. Mr. Peter Stella & Seiichi Shimizu & Mr. Simon T Gray & Mr. Ulrich H Klueh & Alexandre Chailloux, 2008. "Central Bank Response to the 2007–08 Financial Market Turbulence: Experiences and Lessons Drawn," IMF Working Papers 2008/210, International Monetary Fund.
    4. Robert A. Eisenbeis & George G. Kaufman, 2005. "Bank crisis resolution and foreign-owned banks," Economic Review, Federal Reserve Bank of Atlanta, vol. 90(Q4), pages 1-18.
    5. Claudio Borio & William Nelson, 2008. "Monetary operations and the financial turmoil," BIS Quarterly Review, Bank for International Settlements, March.
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