Gros, Daniel, (2017), “The Inflation Target Trap”, Project Syndicate, 6 July
Central banks have a problem: growth in much of the world is accelerating, but inflation has failed to take off. Of course, for most people, growth without inflation is the ideal combination. But central banks have set the goal of achieving an inflation rate of “below, but close to 2%,” as the European Central Bank puts it. And, at this point, it is hard to see how that can be achieved.
- ECB, (2017), «Domestic and global drivers of inflation in the euro area» , ECB, June
- Merler, Silvia, (2017), «The Fed’s problem with inflation», Brugel, 19 June