Reforming the European Central Bank

Christophe Blot (1) , Paul Hubert (1) , Fabien Labondance (1)

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

In the early 1990s, the independence of central banks became a pillar of a new model of central banking oriented toward price stability. These changes have been part of a new paradigm stemming from theoretical literature on monetary policy of the mid-1980s (see Chap. 2). This literature has strongly influenced the setup of central banking in the European Monetary Union. [First lines]

Keywords: European Central Bank; Price stability; Monetary policy

Domains: Humanities and Social Sciences; Economics and Finance

Christophe Blot, Paul Hubert, Fabien Labondance. Reforming the European Central Bank. Jérôme Creel; Eloi Laurent; Jacques Le Cacheux. Report on the State of the European Union, Palgrave Macmillan, pp.83 - 96, 2018, 9783319983639. ⟨hal-03471743⟩