Perspectives on Euro area monetary policy

What can we learn about the monetary policy strategy of the European Central Bank (ECB) in light of the evolution of nominal and real rates in the euro area since January 1999? Is that policy consistent with the mandate that the Treaty has given it and the way the Governing Council has developed that mandate? Are the criticisms of little concern for growth and employment often raised against ECB policy justified? What are the main risks facing the ECB? Where is monetary policy (and interest rates) likely to go from here?

These are some of the questions that will be addressed by Jordi Galí, Director of the Center for Research on International Economics (CREI), as well as Professor at Universitat Pompeu Fabra, Visiting Professor at MIT, and Programme Director of the CEPR, who will present ѐerspectives on Euro Area Monetary Policy' as part of the Institute for Fiscal Studies Lunchtime Policy Sessions, due to take place 19 ֠24 August 2005.