Monetary policy measures in reaction to the Global Financial Crisis and the COVID-19 pandemic have resulted in unprecedented (re)distributional effects. In addition, Central Bank (CB) interventions have been conceptualized as targeted measures favouring certain market participants compared to others. Against this background, discussions about CBs and inequality have sparked in the economic and legal literature. The article takes up this discourse and sheds light on the different aspects of equality within monetary policy: equality as an objective of monetary policy, equality and inequality considerations with regard to the design of monetary policy measures, and equality and inequality as side effects of monetary policy and the interaction between inequality and the monetary policy transmission. The aim is to provide a structural analysis of how the notion of equality is embedded in the mandate of the ECB and how it translates into legal requirements with regard to the implementation of monetary policy measures. Central Banks, inequality, ECB, monetary policy, global financial crisis, COVID-19
{"title":"Central banks and inequality","authors":"Sara Dietz","doi":"10.54648/cola2023095","DOIUrl":"https://doi.org/10.54648/cola2023095","url":null,"abstract":"Monetary policy measures in reaction to the Global Financial Crisis and the COVID-19 pandemic have resulted in unprecedented (re)distributional effects. In addition, Central Bank (CB) interventions have been conceptualized as targeted measures favouring certain market participants compared to others. Against this background, discussions about CBs and inequality have sparked in the economic and legal literature. The article takes up this discourse and sheds light on the different aspects of equality within monetary policy: equality as an objective of monetary policy, equality and inequality considerations with regard to the design of monetary policy measures, and equality and inequality as side effects of monetary policy and the interaction between inequality and the monetary policy transmission. The aim is to provide a structural analysis of how the notion of equality is embedded in the mandate of the ECB and how it translates into legal requirements with regard to the implementation of monetary policy measures.\u0000Central Banks, inequality, ECB, monetary policy, global financial crisis, COVID-19","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135761985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Judicial Review of Administration in Europe: Procedural Fairness and Propriety</i>, by Giacinto della Cananea and Mauro Bussani. (Oxford: Oxford University Press, 2021)","authors":"Roberto Caranta","doi":"10.54648/cola2023113","DOIUrl":"https://doi.org/10.54648/cola2023113","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135761986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Digital Constitutionalism in Europe: Reframing Rights and Powers in the Algorithmic Society</i>, by Giovanni De Gregorio. (Cambridge: Cambridge University Press, 2022)","authors":"Maja Brkan, Hana Palčič Vilfan","doi":"10.54648/cola2023108","DOIUrl":"https://doi.org/10.54648/cola2023108","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"135 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>The European Council in the era of crises</i>, by JanWerts. (London: John Harper Publishing, 2021)","authors":"Maria Patrin","doi":"10.54648/cola2023102","DOIUrl":"https://doi.org/10.54648/cola2023102","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"196 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135761992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Unfair Contract Terms in the Digital Age: The Challenge of Protecting European Consumers in the Online Marketplace</i>, by Caterina Gardiner. (Cheltenham: Edward Elgar, 2022)","authors":"Ivanka Karaivanova","doi":"10.54648/cola2023109","DOIUrl":"https://doi.org/10.54648/cola2023109","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Law, Legal Expertise and EU Policy-Making</i>, Edited by Emilia Korkea-aho and Päivi Leino-Sandberg. (Cambridge: Cambridge University Press, 2022)","authors":"Ana Bobic","doi":"10.54648/cola2023101","DOIUrl":"https://doi.org/10.54648/cola2023101","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762239","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A fresh look at judicial remedies in EU equality law and beyond: The untapped possibility of structural injunctions","authors":"Daniel Halberstam, Sina Van Den Bogaert","doi":"10.54648/cola2023093","DOIUrl":"https://doi.org/10.54648/cola2023093","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Shaping EU Law the British Way: UK Advocates General at the Court of Justice of the European Union</i>, Edited by Graham Butler and Adam Lazowski. (Oxford: Hart Publishing, 2022)","authors":"Eun Hye Kim","doi":"10.54648/cola2023104","DOIUrl":"https://doi.org/10.54648/cola2023104","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"275 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book Review: <i>Non-Competition Interests in EU Antitrust Law: An Empirical Study of Article 101 TFEU.</i>, by Or Brook. (Cambridge University Press, 2022)","authors":"Niamh Dunne","doi":"10.54648/cola2023105","DOIUrl":"https://doi.org/10.54648/cola2023105","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"When an ice cream case provides antitrust experts with food for thought: <i>Unilever Italia</i>","authors":"Mariateresa Maggiolino","doi":"10.54648/cola2023099","DOIUrl":"https://doi.org/10.54648/cola2023099","url":null,"abstract":"","PeriodicalId":47406,"journal":{"name":"Common Market Law Review","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762241","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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