The ECB's Monetary Policy and its Relation to Fiscal Policy

• Autorzy: Klaus Masuch , Claus Brand

Warianty tytułu

Polityka pieniężna EBC i jej związki z polityką fiskalną

• Języki publikacji: EN

Abstrakty

EN

In my speech today I should like to first elaborate on the particular approach chosen by the ECB regarding some key aspects and principles underlying the conduct of monetary policy. In the second part I will present our views regarding the relation of monetary and fiscal policy. Before, let me briefly outline the main features of the macro-economic institutional framework in the euro area. These are designed to ensure stable prices, sound public finances and welfare improving structural policies, based on a clear allocation of responsibilities and instruments to different policy makers. The Treaty establishing the European Community has assigned the ECB the mandate to maintain price stability and guarantees a high degree of independence in pursuing that mandate. In addition, the Treaty supports the credibility of stable prices by prohibiting the monetary financing of public deficits and mandating that excessive deficits are to be avoided. (fragment of text)

Słowa kluczowe

PL

Polityka pieniężna; Polityka pieniężna Europejskiego Banku Centralnego; Polityka budżetowa; Materiały konferencyjne

EN

Monetary policy; Monetary Policy of the ECB; Budgetary policy; Conference materials

• Czasopismo: Bank i Kredyt
• Rocznik: 2002
• Numer: nr 11-12
• Strony: 236-244

Twórcy

autor

Klaus Masuch

autor

Claus Brand