Risks of deflation versus risks of excessive inflation in Europe |
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Authors: | Ray Barrell Tatiana Fic |
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Institution: | 1. National Institute of Economic and Social Research, London, UK
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Abstract: | Economists are currently divided over the question of what represents a more immediate threat to the global economy — deflation
or excessive inflation. Using stochastic simulations, this article extrapolates the likely inflation rates in individual European
countries and the euro area as a whole. The results indicate that as the financial crisis continues to subside, policymakers
should be vigilant about expeditiously rolling back the unconventional monetary policy measures implemented during the crisis. |
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