Berger, Helge; Harjes, Thomas; Stavrev, Emil - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2008
Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for …-monetary factors alone may leave the ECB with an incomplete picture of the economy. However, treating monetary factors as a separate … monetary pillars of the ECB's policy strategy appears the most promising way forward. The role played by monetary aggregates in …