On its web site, the European Central Bank (ECB) states: The European Central Bank and the national
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On its web site, the European Central Bank (ECB) states: The European Central Bank and the national central banks together constitute the Eurosystem, the central banking system of the euro area. The main objective of the Eurosystem is to maintain price stability: safeguarding the value of the euro. The Federal Reserve, in contrast, has a dual mandate of both price stability and high employment.
Why might a single objective of price stability be easier for the ECB to fulfill, given its circumstances?
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The countries of the Eurozone experience different eco...View the full answer
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Related Book For 
Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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