Francesco Papadia, Alessandra Marcelletti, (2017), “Phillips vs. Pass-through, or the changing ECB understanding of inflation”, Bruegel, 25 October
This blog post looks at how the approach of the ECB to inflation has changed over the years. It shows the ECB has moved, over the years, from a small towards a large country approach, giving more weight to the improving employment conditions than to the appreciating exchange rate in deciding its monetary policy moves.
Relevant Posts
- Ferdinando Giugliano, (2017), «The ECB Shows It Has Won the Market’s Trust«, Bloomberg, 27 October
- David Miles, Ugo Panizza, Ricardo Reis, Ángel Ubide (2017), «Elusive inflation and the Great Recession», VoxEU,25 October