Chapter 3 Monetary Interaction: Case C

  • Michael Carlberg


1) The static model. This chapter is based on target system C. The European central bank has a single target, that is zero inflation in Europe. In contrast, the American central bank has two conflicting targets, that is zero inflation and zero unemployment in America.


Monetary Policy Central Bank Money Supply European Central Bank Reaction Function 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Michael Carlberg
    • 1
  1. 1.Department of EconomicsHelmut Schmidt UniversityHamburgGermany

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