• Economics
  • Published 2008

ECB Credibility and Transparency

@inproceedings{Geraats2008ECBCA,
  title={ECB Credibility and Transparency},
  author={Petra M. Geraats},
  year={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 below but close to 2% over the medium term. Although this could be attributed to unanticipated shocks, the analysis in… CONTINUE READING

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