Challenges ahead for EMU monetary policy

Christophe Blot (1) , Jérôme Creel (1) , Paul Hubert (1)

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

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.

Mots clés: Fiscal policy; EMU monetary policy; Monetary policy developments

Domaines: Economies et finances

Christophe Blot, Jérôme Creel, Paul Hubert. Challenges ahead for EMU monetary policy. 2019. ⟨hal-03403244⟩