Reforming the European Central Bank

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2018

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Christophe Blot et al., « Reforming the European Central Bank », HAL SHS (Sciences de l’Homme et de la Société), ID : 10670/1.f65bfc...


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In the early 1990s, the independence of central banks became a pillar of a new model of central banking oriented toward price stability. These changes have been part of a new paradigm stemming from theoretical literature on monetary policy of the mid-1980s (see Chap. 2). This literature has strongly influenced the setup of central banking in the European Monetary Union. [First lines]

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