The introduction clarifies the main purpose of the book: to give an analytical account of the technology for monetary policy implementation of the European Central Bank, comparing it, when useful, with the approaches of the US Federal Reserve System, the Bank of Japan, and the Bank of England. The book addresses this issue both theoretically and empirically, examining normal as well as stressed conditions. In so doing, it not only remedies a lack of attention to an important issue but it also presents a systematic treatment of the implementation of monetary policy in crisis times. The introduction also explains that the title of the book, with its reference to the concrete euro, aims at addressing the issue of how a given monetary policy stance is translated into concrete market conditions. The allusion to something as solid as concrete is also intentional. The closing section of the introduction presents the plan of the book.
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