Central banking, monetary policy, and the European central bank : coping with the challenges / edited by Emanuele Citera (Assistant Professor of Economics, Division of Social Studies, Bard College, USA), Lino Sau (Associate Professor of Political Economy, Department of Economics and Statistics "Cognetti de Martiis", University of Turin) and Domenica Tropeano (Associate Professor of Political Economy, Department of Economics and Law, University of Macerata, Italy).

Format:

Book

Contributor:

Citera, Emanuele, editor.

Sau, Lino, editor.

Tropeano, Domenica, editor.

Edward Elgar Publishing, publisher.

Series:

Elgar series on central banking and monetary policy

The Elgar series on central banking and monetary policy

Language:

English

Subjects (All):

Banks and banking, Central--Europe.

Banks and banking, Central.

Monetary policy--Europe.

Monetary policy.

Genre:

Electronic books.

Physical Description:

1 online resource (208 pages)

Edition:

First edition.

Place of Publication:

Northampton : Edward Elgar Publishing, 2025.

Summary:

"This book sheds light on the incoming challenges facing the European Central Bank (ECB) through a post-Keynesian lens. With contributions from expert global scholars and practitioners, it provides novel perspectives on the monetary and financial theory underlying the conduct of the ECB. Divided into three main parts, chapters cover the theoretical foundations of central banking theory, the threats of climate change and its impact on monetary policy, and the roles of public banks and the interbank market. They critically analyze the ECB's focus on price stability as well as its inflation-targeting regime, before considering whether its independence and mandate should be reviewed in light of current climate realities. The book draws on quantitative data to examine the interactions between carbon emissions, output, and green and brown systems, and concludes by evaluating the possibility of reforming the TARGET2 system to convert the ECB into an international settlement institution. Presenting cutting-edge insights and innovative solutions to the imminent challenges confronting the ECB, this book is an essential resource for students and scholars of economics, political economy, and money and banking. Its investigation of current and future policy issues will also greatly benefit practitioners and policymakers in these fields"-- Provided by publisher.

Contents:

Contents: Preface

Part I: Theoretical issues

1. Is the ecb well-equipped to deal with upcoming financial instability and crises? / Lino Sau, Emanuele Citera and Domenica Tropeano

2. Inflation is not a monetary phenomenon: A critical analysis of the theoretical model that inspires the European central bank / Giancarlo Bertocco and Andrea Kalajzić

3. Liquidity and solvency of national government in the eurozone and the role of the ecb / Klaus Diekmann, Dirk Ehnts and Leon Heckmann

Part II: Climate change and monetary policy

4. Climate change, carbon prices, and the role of the ecb's monetary policy / Olimpia Fontana

5. Economic policy and climate change: Current practices and challenges for the ecb / Ettore Gallo and João Paulo Braga

6. After the crises and in front of climate change: Should the independence and mandate of the ecb be reviewed? / Etienne Farvaque

Part III: Banking and interbank market

7. Transforming the European central bank into an international settlement institution: The keynes plan revisited / Sergio Rossi

8. The limits of mainstream monetary policy and a proposal for public banks / Riccardo Zolea

9. A rollover-based source of the European fragmentation / Jessica Reale.

Notes:

Includes bibliographical references and index.

Description based on print record.

ISBN:

9781035324279 (e-book)

Access Restriction:

Restricted for use by site license.