Details
| Translated title of the contribution | Debate about Target Balances — Reply and Response |
|---|---|
| Original language | German |
| Pages (from-to) | 70-75 |
| Number of pages | 6 |
| Journal | Wirtschaftsdienst |
| Volume | 99 |
| Issue number | 1 |
| Early online date | 17 Jan 2019 |
| Publication status | Published - Jan 2019 |
Abstract
Reply of Stefan Homburg: In a previous article, Adalbert Winkler alleges that significant balances in the eurozone’s Target2 system presuppose the existence of excess reserves, and that a US style rebalancing would make it impossible for the ECB Governing Council to fulfil its mandate. Homburg shows that both allegations are incorrect. Response of Adalbert Winkler: Neither of these allegations have been made in the previous article. Thus, there is no need for any substantial revision of the claim that the introduction of ceilings on Target balances or a settlement via non-policy assets would be inconsistent with the ECB’s price stability mandate.
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Business, Management and Accounting (miscellaneous)
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In: Wirtschaftsdienst, Vol. 99, No. 1, 01.2019, p. 70-75.
Research output: Contribution to journal › Comment/debate › Research › peer review
}
TY - JOUR
T1 - Debatte über die Target-Salden
T2 - Replik und Erwiderung
AU - Homburg, Stefan
AU - Winkler, Adalbert
PY - 2019/1
Y1 - 2019/1
N2 - Reply of Stefan Homburg: In a previous article, Adalbert Winkler alleges that significant balances in the eurozone’s Target2 system presuppose the existence of excess reserves, and that a US style rebalancing would make it impossible for the ECB Governing Council to fulfil its mandate. Homburg shows that both allegations are incorrect. Response of Adalbert Winkler: Neither of these allegations have been made in the previous article. Thus, there is no need for any substantial revision of the claim that the introduction of ceilings on Target balances or a settlement via non-policy assets would be inconsistent with the ECB’s price stability mandate.
AB - Reply of Stefan Homburg: In a previous article, Adalbert Winkler alleges that significant balances in the eurozone’s Target2 system presuppose the existence of excess reserves, and that a US style rebalancing would make it impossible for the ECB Governing Council to fulfil its mandate. Homburg shows that both allegations are incorrect. Response of Adalbert Winkler: Neither of these allegations have been made in the previous article. Thus, there is no need for any substantial revision of the claim that the introduction of ceilings on Target balances or a settlement via non-policy assets would be inconsistent with the ECB’s price stability mandate.
UR - http://www.scopus.com/inward/record.url?scp=85060919871&partnerID=8YFLogxK
U2 - 10.1007/s10273-019-2397-9
DO - 10.1007/s10273-019-2397-9
M3 - Meinungsbeitrag
AN - SCOPUS:85060919871
VL - 99
SP - 70
EP - 75
JO - Wirtschaftsdienst
JF - Wirtschaftsdienst
SN - 0043-6275
IS - 1
ER -