Economics, Econometrics and Finance
3 years ago

European Central Bank Urgently Needs Strategy Overhaul for Economic Stability

European Journal of Economics and Economic Policies Intervention
The European Central Bank: the time is ripe for a major revision of its strategy
Peter Bofinger

Paper Summary

The European Central Bank needs to update its strategy. They should clearly define their inflation target and make it easy for the public to see if their decisions align with their goals. Environmental goals can be included as long as they don't interfere with monetary stability. Using inflation targeting can help guide their decisions effectively.

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