Macroeconomic
Assessment guidance
The European Central Bank’s stated monetary aim is to ensure price stability , keeping the Harmonised Index of Consumer Prices (a measure of inflation) below but close to 2%.
You can read more on this here: https://www.ecb.europa.eu/mopo/strategy/html/index.en.html
In order to answer the below question you will need to use:
Data from the ECB so as to support your answer.
At least 10 journal papers of your choice (and reference them appropriately)
The request:
1) From a monetary policy perspective, critically evaluate the actions that the ECB has taken in the past few years so as to ensure that this target is achieved.
Present (data) evidence covering:
a. The equilibrium in the money market
b. The balance of payments (use the total current account)c. The exchange rates between Euro and a currency of your choice
2) Provide your own evaluation of whether the current ECB actions are sufficient for the inflation target to be achieved in the view of the COVID-19 disruption. Explain what actions have been taken and what could be taken, in your own opinion. Support your views with data evidence (as well as evidence from the academic literature).
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