Central Banking and the Crisis. A Comparison of the Federal Reserve and the European Central Bank Measures, and the ECB’s Changing Role in the EU Economic Governance System
The European Central Bank (ECB) has received a lot of criticism for its too little, too late performance to ease market pressures during the economic crisis. At the same time, the ECB and the Federal Reserve (FED) have managed the new economic realities that have emerged in the international context differently. Despite the criticisms, the European Central Bank is the European Union institution that has assumed more control due to the new model of economic governance of the EU. Why did the Federal Reserve act so nimbly and quickly to calm the markets, while the ECB was so cautious in managing monetary policy? The aim of this paper is to perform a comparative analysis of the management of interest rates and other monetary policy measures und... Ver más
1657-7558
2346-2132
2016-06-15
147
167
http://purl.org/coar/access_right/c_abf2
info:eu-repo/semantics/openAccess
