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Free keywords:
E58, F41, G28
European Monetary Union, European Central Bank, Monetary Stability, Banking Supervision, Financial Crisis Management
Abstract:
This contribution to the Festschrift for the Centenary of the Swiss National Bank discusses the prospects for monetary stability and financial stability after the creation of the European Monetary Union. Topics covered include the robustness of institutional arrangements and their implications for monetary stability, the implications for a small, nonparticipating country, and the problem of financial stability in a setting in which banking supervision is national and the lender of the last resort is supranational.
