scholarly journals Ready to Do Whatever it Takes? The Legal Mandate of the European Central Bank and the Economic Crisis

2014 ◽  
Keyword(s):  
Central Bank ◽  
Economic Crisis ◽  
European Central Bank ◽  
European Central ◽  
Legal Mandate

scholarly journals Unconventional monetary policy of the European Central Bank: A brief recapitulation

2019 ◽  
Vol 53 (3) ◽  
pp. 43
Author(s):  
Ilona Skibińska-Fabrowska
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Central Bank ◽  
Economic Crisis ◽  
Financial Market ◽  
European Central Bank ◽  
Central Banks ◽  
Unconventional Monetary Policy ◽  
European Central ◽  
National Bank

<p>The financial and economic crisis that has hit many economies in recent years has significantly increased the activity of central banks. After using the standard instruments of conducting monetary policy, in view of the obstruction of monetary impulse transmission channels, they reached for non-standard instruments. Among them, asset purchase programs played a signifciant role. The European Central Bank (ECB) launched the largest asset purchase programme (APP) of this type in 2014 and expired in December 2018. The aim of the undertaken activities was to improve the situation on the financial market and stimulate economic growth. The article reviews the literature and results of research on the effects of the program and indicates the possibility of using the ECB’s experience in conducting monetary policy by the National Bank of Poland.</p>

scholarly journals ROLE OF THE EUROPEAN CENTRAL BANK IN COMBATING THE FINANCIAL CRISIS IN THE EUROPEAN UNION

2019 ◽  
Vol 7 (1) ◽  
pp. 97
Author(s):  
Justyna Maliszewska-Nienartowicz ◽  
Amanda Witulska
Keyword(s):  
European Union ◽  
Monetary Policy ◽  
Financial Crisis ◽  
Central Bank ◽  
Economic Crisis ◽  
European Central Bank ◽  
The European Union ◽  
European Central

This work presents the  European Central Bank’s role in eliminating economic crisis in the European Union. It contains roots and course of the financial slowdown in the eurozone. The Authors show competences of the institution before and its functions during the crisis. Finally, there was made an attempt to evaluate the effectiveness of the ECB monetary policy.

scholarly journals Central Banking and the Crisis. A Comparison of the Federal Reserve and the European Central Bank Measures, and the ECB’s Changing Role in the EU Economic Governance System

OASIS ◽  
2016 ◽  
pp. 147
Author(s):  
Marcin Roman Czubala ◽  
Mónica Puente Regidor
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Interest Rates ◽  
Economic Crisis ◽  
Federal Reserve ◽  
European Central Bank ◽  
Central Banking ◽  
Economic Governance ◽  
European Central ◽  
The Eu

The European Central Bank (ECB) has received a lot of criticism for its too little, too late performance to ease market pressures during the economic crisis. At the same time, the ECB and the Federal Reserve (FED) have managed the new economic realities that have emerged in the international context differently. Despite the criticisms, the European Central Bank is the European Union institution that has assumed more control due to the new model of economic governance of the EU. Why did the Federal Reserve act so nimbly and quickly to calm the markets, while the ECB was so cautious in managing monetary policy? The aim of this paper is to perform a comparative analysis of the management of interest rates and other monetary policy measures undertaken by the Central Bank and the Federal Reserve during the economic crisis, as well as to understand the changes in the context of the ECB and the emergence of its authority within the European Union’s economic governance model since 2011. Thus, in order to carry out a scrupulous exposition, we will also limit the time frame of this study to the 2007-2014 period.

Was für eine Europäische Verfassung?

2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar
Keyword(s):  
Central Bank ◽  
European Central Bank ◽  
Social Rights ◽  
European Constitution ◽  
Fundamental Level ◽  
European Central

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.

Dramatis Institutiones

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
European Union ◽  
Central Bank ◽  
International Monetary Fund ◽  
Euro Area ◽  
European Central Bank ◽  
The European Union ◽  
European Central ◽  
Regime Complex ◽  
Basic Facts ◽  
Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

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