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Fundamentals of Monetary Policy in the Euro Area
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entral banks are among the most powerful actors in today’s financial markets. At the same time, and despite a recent trend towards more transparency, little is known about their structures, the way they work in practice and the way they arrive at concrete decisions – there is still a mysterious aura around these institutions. This book aims at shedding more light at central banks and monetary policy, with a particular focus at the euro area.
This book is constructed as a sequence of different parts and modules which, in principle, should allow the reader to digest it according to his or her preferences. Part I aims at giving a more theoretical background of the issues at stake. More precisely, Session 2 introduces a few helpful economic and statistical concepts. Sessions 3 and 4 give a broad institutional overview and also illustrate the effects of the most reccnt changes on the voting procedures in the Governing Council. Sessions 5 and 6 proceed by defining inflation and deflation and elaborating on their causes. Some simple monetary policy strategies are further explained in Session 7.
Part II puts its focus on various financial markets and their basic functioning. Money markets, bond and stock markets as well as exchange rate markets and option markets are analysed in more detail. Moreover, the debate about efficient markets and behavioural aspects is briefly touched upon. An additional section on Benjamin Graham, the “father of value investing”, has been added.
Dieter Gerdesmeier - Personal Name
1st Edtion
978-87-403-1004-7
NONE
Fundamentals of Monetary Policy in the Euro Area
Management
English
2015
1-280
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