A New Two-Pillar Strategy for the ECB. CEPS Policy Brief No. 191, 30 June 2009
(2009) A New Two-Pillar Strategy for the ECB. CEPS Policy Brief No. 191, 30 June 2009.
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Abstract
This paper explores the question of whether there is a trade-off between maintaining price stability and financial stability (much in the same way as there can be a trade-off between price stability and output stability when supply shocks occur) and if so, which of the two objectives should take precedence. The authors analyse how such a trade-off can arise and further examine the issue of how to define and monitor financial stability and assess which policy instruments the ECB could deploy to maintain financial stability.
| Item Type: | Policy Paper |
|---|---|
| Public Domain: | No |
| Refereed: | No |
| Status: | Published |
| Authors, Individual: | de Grauwe, Paul and Gros, Daniel. |
| Title: | A New Two-Pillar Strategy for the ECB. CEPS Policy Brief No. 191, 30 June 2009 |
| Language: | English |
| Journals and Series: | Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs |
| Pages: | 12 |
| Month: | June |
| Year: | 2009 |
| Subjects: | EU policies and themes > Policies & related activities > economic and financial affairs > economic policy EU policies and themes > EU institutions & developments > European Central Bank |
| Alternative Locations: | http://shop.ceps.eu/BookDetail.php?item_id=1866 |
| ID Code: | 11264 |
| Deposited By: | Wilkin, Phil |
| Deposited On: | 09 July 2009 |
