Inflation, price stability, and monetary policy - on the legality of inflation targeting by the Eurosystem

  • In the communication of the European Central Bank (ECB), the statement that „we act within our mandate“ is often referred to. Also among practitioners of the Eurosystem the term „mandate“ has become popular. In his Working Paper, Helmut Siekmann analyzes the legal foundation of the tasks and objectives of the Eurosysstem and price stability as a legal term. He finds that the primary law of the EU only very sparsely employs the term „mandate“. It is never used in the context of monetary policy and its institutions. Moreover, he comes to the conclusion that inflation targeting as a task, competence, or objective of the Eurosystem is legally highly questionable according to the common standards of interpretation.

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Author:Helmut SiekmannGND
URN:urn:nbn:de:hebis:30:3-656781
URL:https://www.imfs-frankfurt.de/de/forschung/imfs-working-papers/details/mm_publication/detail/publication/inflation-price-stability-and-monetary-policy-on-the-legality-of-inflation-targeting-by-the-euro.html
Parent Title (English):Working paper series / Institute for Monetary and Financial Stability ; 172
Series (Serial Number):Working Paper Series : Institute for Monetary and Financial Stability (172)
Publisher:Johann Wolfgang Goethe-Univ., Inst. for Monetary and Financial Stability
Place of publication:Frankfurt am Main
Document Type:Working Paper
Language:English
Date of Publication (online):2022/09/01
Date of first Publication:2022/09/01
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2022/09/13
Volume:2022
Page Number:28
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / Institute for Monetary and Financial Stability (IMFS)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht