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The ECB’s Deflation Obsession

Daniel Gros, (2019), “The ECB’s Deflation Obsession”, Project Syndicate, 6 September

It is hard to understand why the European Central Bank is currently so anxious to find new ways to make its policy stance even more expansionary. Its hyper-vigilance about falling prices is misplaced, and its ability to increase the rate of inflation is dubious.

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