The creation of a single monetary currency and a single monetary
policy in the euro area has faced extraordinary challenges, among
them the design of suitable monetary policy instruments. This book
evaluates monetary policy instruments of the Eurosystem against a
number of requirements. To do so, a theoretical model framework is
developed which brings together the monetary policy activities of a
central bank and the liquidity management of banks considering the
main characteristics and institutional features of the euro
area.
General
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