DETERMINANTY NORMALIZACJI POLITYKI MONETARNEJ EUROPEJSKIEGO BANKU CENTRALNEGO
Journal Title: Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace - Year 2017, Vol 1, Issue 1
Abstract
Due to the implementation of non-standard monetary policy by the European Central Bank, concentrated in the first part of the financial crisis mainly on the unconventional open market operations, and in the second on the Quantitative Easing policy, the exit strategies and monetary policy normalization have become the subject of intensified discussion. The concept of a return to "normal" monetary policy of the ECB will require the implementation of two aspects: raising of interest rates and reduction of the size of central bank balance sheet. However, it is undisputed that the exit strategies of the ECB could be implemented only after completing of the asset purchase program and stabilization of euro area public finances. It seems that at this moment the monetary policy of Eurozone will have to wait. The main aim of the study is to identify the determinants of the monetary policy normalization of the European Central Bank. Particular attention will be paid to the conditions of normalization relating to the support for creation of economic recovery in the euro area, the increase of inflation towards the inflation target, stimulation of dynamics of lending activity and the situation on the financial market. The following research methods will be used: the literature studies, including domestic and foreign literature, case studies, cause and effect analysis, observation analysis as well as synthesis analysis.
Authors and Affiliations
Irena Pyka, Aleksandra Nocoń
Keywords
Related Articles
- EP ID EP361929
- DOI -
- Views 70
- Downloads 0
Transformacja Sił Zbrojnych RP 1999–2014. Aspekt finansowy
The last decade of 20th century as well as last 15 years were two frames of time where armed forces went under major transformation. Since 1999 almost all fields of regulations in Polish Army has been changed: organizati...
UNIA BANKOWA A STABILNOŚĆ SYSTEMU FINANSOWEGO UE
Banking union is a new concept of the European Union in the field of financial market. The project aim is to strengthen the financial system and increase its resistance to crises that may arise in the future. This articl...
Rozwój zrównoważony w gospodarce rynkowej
Sustainable development in a market economy The aim of the article is to assess the possibilities and ways to implement the idea of sustainable development in a market economy. Economic and social development encounters...
Znaczenie zaufania i kooperacji w wymiarach lokalnych widziane z perspektywy 25 lat samorządności w Polsce
The article attempts to examine the progress that has been made in the area of self-government over the last quarter century in Poland. Not only has the chaos in the institutional process in this period affected the over...
MIĘDZYNARODOWA KONKURENCYJNOŚĆ SIECI POPYTU – INNOWACJE POPRZEZ CLOUD COMPUTING
In today’s economy supply chains are frequently transforming into international demand networks. Cloud computing is the answer to the main challenges posed by creation and management of flexible and adaptive global deman...