Abstract
The establishment of the European Central Bank (ECB) and with it the launch of the euro has arguably been a unique endeavour in economic history, representing an experiment of hitherto unknown magnitude in central banking. This article aims to describe the main aspects of the set-up and the responsibilities, strategy and operations of the ECB. It also aims to summarize some of the main lessons learned from the establishment of the ECB for monetary economics, and to sketch some of the prospects for the ECB and the euro.
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© 2018 Macmillan Publishers Ltd.
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Binder, M., Wieland, V. (2018). European Central Bank. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2483
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2483
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
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