Title: Challenges for monetary policy in Euroland
Authors: De Grauwe, Paul # ×
Issue Date: Nov-2002
Publisher: Blackwell publ ltd
Series Title: Journal of common market studies vol:40 issue:4 pages:693-718
Abstract: Despite the economic and political success of its launch, the challenges ahead for the euro are formidable. This article analyses some of these challenges, focusing particularly on the monetary policy strategy of the European Central Bank (ECB) and on the implications of enlargement of the monetary union to up to 27 Member States. The monetary policy strategy and inflation target of the ECB are criticized for being unrealistic and possibly damaging to the ECB's credibility. It is shown that unless the mechanisms for taking interest rate decisions are rethought, there are risks that the wrong decisions will be taken after enlargement.
ISSN: 0021-9886
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Research Center of International Economics, Leuven
× corresponding author
# (joint) last author

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