Globalization, Financial Volatility and Monetary Policy

@article{Wagner2004GlobalizationFV,
  title={Globalization, Financial Volatility and Monetary Policy},
  author={H. Wagner and W. Berger},
  journal={Empirica},
  year={2004},
  volume={31},
  pages={163-184}
}
Recently it has often been claimed that globalization eases the job of central banks as it helps to tame inflation. This is used to argue that central banks (particularly the ECB, referring to the objectives as laid down in the EU Treaty) could or should reduce their efforts in the fight against inflation in favor of supporting the general economic policies of the governments. This paper takes a critical look at this argument, pointing to the structural changes associated with globalization and… Expand
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