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Foreword by O. Issing

Published online by Cambridge University Press:  22 September 2009

Otmar Issing
Affiliation:
ECB Chief Economist and Member of the Executive Board Frankfurt am Main, November 2002
Anil Kashyap
Affiliation:
Edward Eagle Brown Professor of Economics and Finance University of Chicago
Benoît Mojon
Affiliation:
Senior Economist European Central Bank
Ignazio Angeloni
Affiliation:
European Central Bank, Frankfurt
Anil K. Kashyap
Affiliation:
University of Chicago
Benoît Mojon
Affiliation:
European Central Bank, Frankfurt
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Summary

This book presents to the community of central bankers and academics, and to the public at large, the results of the research project undertaken by the Eurosystem Monetary Transmission Network (MTN) on the transmission of monetary policy in the euro area. This is the first comprehensive research project completed jointly by the European Central Bank (ECB) and by the euro area National Central Banks (NCBs) after the introduction, in 1999, of the new single European currency, the euro.

The choice of monetary policy transmission as the topic for this study was a logical and almost a necessary one. The transmission process is a central issue for every central banker. It figures prominently in the preparation, decision-making and communication of monetary policy. Good analysis is needed to get information on the transmission mechanism and to make it systematic and soundly based on economic theory and data evidence. This task was assigned, shortly after the onset of the single European monetary policy, to the Monetary Transmission Network, a team of Eurosystem economists with the proper mix of expertise. Their work lasted some two years. Preliminary results of this research were presented, even before its completion, to a number of academic and policy-making audiences on both sides of the Atlantic. Disseminating in-house research, particularly when the topic is of such policy relevance, is an integral part of central bank communication. This book is part of this communication effort.

Type
Chapter
Information
Monetary Policy Transmission in the Euro Area
A Study by the Eurosystem Monetary Transmission Network
, pp. xi - xii
Publisher: Cambridge University Press
Print publication year: 2003

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  • Foreword by O. Issing
    • By Otmar Issing, ECB Chief Economist and Member of the Executive Board Frankfurt am Main, November 2002, Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance University of Chicago, Benoît Mojon, Senior Economist European Central Bank
  • Edited by Ignazio Angeloni, European Central Bank, Frankfurt, Anil K. Kashyap, University of Chicago, Benoît Mojon, European Central Bank, Frankfurt
  • Book: Monetary Policy Transmission in the Euro Area
  • Online publication: 22 September 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511492372.001
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Save book to Dropbox

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  • Foreword by O. Issing
    • By Otmar Issing, ECB Chief Economist and Member of the Executive Board Frankfurt am Main, November 2002, Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance University of Chicago, Benoît Mojon, Senior Economist European Central Bank
  • Edited by Ignazio Angeloni, European Central Bank, Frankfurt, Anil K. Kashyap, University of Chicago, Benoît Mojon, European Central Bank, Frankfurt
  • Book: Monetary Policy Transmission in the Euro Area
  • Online publication: 22 September 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511492372.001
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Foreword by O. Issing
    • By Otmar Issing, ECB Chief Economist and Member of the Executive Board Frankfurt am Main, November 2002, Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance University of Chicago, Benoît Mojon, Senior Economist European Central Bank
  • Edited by Ignazio Angeloni, European Central Bank, Frankfurt, Anil K. Kashyap, University of Chicago, Benoît Mojon, European Central Bank, Frankfurt
  • Book: Monetary Policy Transmission in the Euro Area
  • Online publication: 22 September 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511492372.001
Available formats
×