Geraats, Petra M. - Directorate-General Economic and Financial Affairs, … - 2008
This paper argues that ECB credibility in delivering price stability is being progressively eroded; this problem could … be overcome by embracing greater transparency especially about the ECB's objectives, macroeconomic forecasts and decision …-making. During the ECB's first decade, average inflation in the euro area has been low, but it has failed to meet the ECB's criterion of …