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Application of rules or policies in the ECB? Legal and institutional challenges impacting the climate transition

dc.contributor.authorMatos, Nuno Albuquerque
dc.date.accessioned2023-12-13T08:48:04Z
dc.date.available2023-12-13T08:48:04Z
dc.date.issued2023-12-12
dc.description.abstractThe paper argues that the ECB is far less an independent institution as Treaty provisions portray. This is due to the lack of institutional alternatives at the EU level to effectively and rapidly deal with complex situations make it the only credible solution, even if very imperfect. This state of affairs does not allow a comparative institutional analysis to be conducted, which is crucial to good public policy decisions. Significantly, the ECB has experienced two different periods: a frictionless and a complex one.The latter has been characterized by increasing monetary policy alignment with the European Council’s political decisions, having materialized in intervention in Member States’ bond markets during the financial and covid-19 crises. The overrelianceon the ECB has recently been consolidated, as it decided to address the issue of climate change from a monetary standpoint in order to speed up the climate transition. However, this trend may not be consistent with its primary mandate of maintaining price stability and, in different ways, may hinder its independence.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.18042/cepc/rdce.76.05pt_PT
dc.identifier.eid85193745399
dc.identifier.issn1138-4026
dc.identifier.urihttp://hdl.handle.net/10400.14/43307
dc.identifier.wos001133205400009
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.subjectMonetary policypt_PT
dc.subjectEuropean Central Bankpt_PT
dc.subjectClimate transitionpt_PT
dc.subjectCentral Bank independencept_PT
dc.subjectPrice stabilitypt_PT
dc.titleApplication of rules or policies in the ECB? Legal and institutional challenges impacting the climate transitionpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.endPage184pt_PT
oaire.citation.startPage157pt_PT
oaire.citation.titleRevista de Derecho Comunitario Europeopt_PT
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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