Almost a year after the European Central Bank (ECB) officially \"opened for business,\" this second major report in the Monitoring European Central Bank series provides a detailed analysis of the ECB\'s actions and alerts the public to the main issues raised by the policies pursued by the ECB during its first year....

This text provides graduate students of macroeconomics, econometrics, and monetary economics with discussion and practical illustrations of the techniques used in applied macroeconometries....