Inflacja w świetle teorii optymalnego obszaru walutowego i w praktyce działalności Europejskiego Banku Centralnego

Abstract

The aim of the article is to evaluate the European Central Bank’s activity in the context of the fulfilment of the price stability criterion by the euro area Member States. The paper is divided into two major parts. The first part focuses on the Theory of Optimum Currency Areas with particular emphasis on price stability. The second part contains an attempt to assess the European Central Bank’s anti-inflationary monetary policy in the euro area.