Monetary Policy and Structural Reforms in the Euro Area
Published in: European Trade Union Confederation, Structural reforms and macro-economic policy, Brussels, 2006, pp. 55-62
12 Pages Posted: 20 Apr 2017
Date Written: September 20, 2006
The purpose of this contribution is to give a broad-based account of the possible interactions between the ECB’s monetary policy, on the one hand, and structural policies in the euro area, on the other. While it does not provide a model-based framework, the aim is to present in a qualitative manner the most relevant channels. Two questions will be addressed in this context. The first question is how structural reforms may affect the conduct of monetary policy in the euro area. The second question is how, in turn, the euro area’s monetary policy through its consistent focus on maintaining price stability supports the reform process and, thereby, the realisation of the Lisbon agenda. Finally, this contribution emphasises the urgency of further structural reforms in Europe.
Keywords: monetary policy, structural reforms, euro area
JEL Classification: D4, E02, E5
Suggested Citation: Suggested Citation