Siviero, Stefano, Neri, Stefano, (2015), “Low inflation in the Eurozone”, Voxeu, 15 Αυγούστου
EZ inflation has been falling steadily since early 2013, turning negative in late 2014. This column surveys a host of recent research from Banca d’Italia that examined the drivers of this fall, its macroeconomic effects, and ECB responses. Aggregate demand and oil prices played key roles in the drop, which has consistently ‘surprised’ market-based expectations. Towards the end of 2014 the risk of the ECB de-anchoring inflation expectations from the definition of price stability became material.
Σχετικές Αναρτήσεις
- Durden, Tyler, (2015), “Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming”, 17 Ιουνίου
- Eurostat/July 2015/141/2015 – 14 August 2015