Monetary Policy’s New Trade-Offs?

There is a broad consensus that a central bank has to be independent of politics and that its primaryobjective is to ensure price stability. Financial crises, however, refuel the debate about the roles ofmonetary policy. This is because financial bubbles can also develop in a low-inflation environment. Onepossible role of monetary policy in ensuring financial stability points towards trade-offs and co-ordinationproblems.

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Year of publication:	2005
Authors:	Schürz, Martin
Institutions:	Österreichische Nationalbank <Wien> ; Fachhochschule des BFI Wien
Subject:	Notenbank \| Central Bank \| Geldpolitik \| Preisstabilität \| wages \| Spekulative Blase \| Bubbles

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1. Introduction
2. Monetary Policy and Financial Stability
3. Problems of Monetary Policy with the Objective of Financial Stability
4. Monetary Policy Strategy and Financial Stability
5. Conclusion: New Forms of Uncertainty in Monetary Policy
6. Bibliography

Persistent link: https://www.econbiz.de/10005867483