Europe's new central bank is developing its version of accountability and public debate over monetary policies. It is natural for CEPR, as a network of policy-oriented academic economists, to contribute to the establishment of this new institution. Monitoring the European Central Bank (MECB) brings together a group of economists internationally known for their work on macroeconomics and monetary policy. MECB monitors the European economy and the work of the ECB, and offers analyses to the public, including the European Parliament and the media. A full MECB report is published each year, complemented by an update that draws on recent publications of the ECB. This is the fifth MECB report.
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Jordi Gali is the Director of the Centre de Reccera en Economia Internacional (CREI) and a Professor of Economics at Universitat Pompeu Fabra (Barcelona). He is co-director of CEPR's International Macroeconomics Programme and an NBER Research Associate. Stefan Gerlach is Director of the Hong Kong Institute for Monetary Research, Adjunct Professor of Economics at the University of Basel and Research Fellow at the CEPR's International Macroeconomics research programme. Julio Rotemberg is the William Ziegler Professor of Business Administration at the Harvard Business School and a Research Associate of the National Bureau of Economic Research. Harald Uhlig is Professor of Economic Policy at Humboldt Universitat zu Berlin and a Research Fellow in CEPR's International Macroeconomics and Financial Economics research programmes. Michael Woodford is Harold H. Helm '20 Professor of Economics and Banking at Princeton University and a Research Associate of the National Bureau of Economic Research.
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