A atual e futura política monetária do Banco Central Europeu

Philip Arestis

doi:10.33834/bkr.v1i1.12

Philip Arestis University of Cambridge, UK e Associação Keynesiana Brasileira http://orcid.org/0000-0001-8729-4846

DOI: https://doi.org/10.33834/bkr.v1i1.12

Palavras-chave: Banco Central Europeu, Política Monetária, Novo Consenso Macroeconômico, Problemas Atuais, Desenvolvimentos Futuros

Resumo

Este artigo examina as operações do Banco Central Europeu (BCE) no que diz respeito à política monetária, juntamente com seus efeitos sobre a inflação, a taxa de câmbio e a estabilidade financeira. O artigo também discute como o papel regulador do BCE deve ser melhorado no futuro, além do envolvimento do BCE na política regulatória em relação ao setor financeiro e as respostas do BCE à crise financeira. O artigo explora a criação da União Monetária Europeia (UME), juntamente com os princípios teóricos do modelo da UME, para avaliar em que medida ambos estão em conformidade com o enquadramento teórico do Novo Consenso Macroeconômico (NCM) e as suas implicações políticas, mais especificamente o uso de metas de inflação. Os problemas com os actuais acordos da UME são então discutidos, seguidos pelas alterações necessárias ao funcionamento do BCE.

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