Monetary Policy Instruments for European Monetary Union

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Focusing on monetary policy instruments for the European Monetary Union (EMU), this revised English edition expands on the original German publication by incorporating new analyses and addressing changing institutional contexts. It emphasizes the efficiency of various policy tools while highlighting the necessity for harmonization to ensure fair competition among nations. Additionally, it explores the implications of linking EMU to the principle of subsidiarity, offering a comprehensive German perspective on future strategies for the European Central Bank.