In May 2011, the ECB published the latest edition of The Monetary Policy of the ECB, which provides a comprehensive study on monetary policy.
The 2011 edition starts with a description of the main institutional aspects that are most relevant for understanding the ECB's monetary policy and thereafter provides an overview of the main economic and financial structures of the euro area economy. This is followed by an explanation of the implementation of monetary policy decisions using the available monetary policy instruments. As a conclusion, the book illustrates how monetary policy has been conducted in the euro area since 1999.
