Fundamentals of Monetary Policy in the Euro Area

Prof. Dr. Dieter Gerdesmeier Fundamentals of Monetary Policy in the Euro Area Concepts – Markets – Institutions Download free books at Download free eBooks at bookboon.com 2 Prof. Dr Dieter Gerdesmeier Fundamentals of Monetary Policy in the Euro Area Concepts – Markets – Institutions Download free eBooks at bookboon.com 3 Fundamentals of Monetary Policy in the Euro Area: Concepts – Markets – Institutions 2 nd edition © 2014 Prof. Dr Dieter Gerdesmeier & bookboon.com ISBN 978-87-403-0763-4 Download free eBooks at bookboon.com Click on the ad to read more Fundamentals of Monetary Policy in the Euro Area 4 Contents 1 Introduction and motivation 14 2 Basic concepts 15 2.1 Learning objectives 15 2.2 Some economic concepts 15 2.3 Some statistical concepts 16 3 A short history of EMU 20 3.1 Learning objectives 20 3.2 e roadmap to EMU 20 3.3 Convergence criteria 22 3.4 e concept of an optimal currency area 24 3.5 Advantages and disadvantages of a monetary union 25 3.6 Some controversies about the road 27 www.sylvania.com We do not reinvent the wheel we reinvent light. Fascinating lighting offers an infinite spectrum of possibilities: Innovative technologies and new markets provide both opportunities and challenges. An environment in which your expertise is in high demand. Enjoy the supportive working atmosphere within our global group and benefit from international career paths. Implement sustainable ideas in close cooperation with other specialists and contribute to influencing our future. Come and join us in reinventing light every day. Light is OSRAM Download free eBooks at bookboon.com Click on the ad to read more Fundamentals of Monetary Policy in the Euro Area 5 4 Institutions 28 4.1 Learning objectives 28 4.2 e European Union 28 4.3 e European Central Bank 29 4.4 Presidents of the European Central Bank 30 4.5 e Rise of the Euro 32 4.6 A closer look at the U.S. Federal Reserve System 33 4.7 A closer look at the Bank of Japan 34 4.8 A closer look at the Bank of England 34 4.9 Decision-making modalities 35 4.10 Independence and accountability 36 5 Inlation 41 5.1 Learning objectives 41 5.2 Basic concepts 41 5.3 Eects of ination 41 5.4 Measuring ination 43 5.5 Core and non-core ination 44 5.6 Measurement problems 45 5.7 Hyperination 45 5.8 Sacrice ratios 48 360° thinking . © Deloitte & Touche LLP and affiliated entities. Discover the truth at www.deloitte.ca/careers