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The ECB’s deflation obsession

Published on: 09 September 2019

The ECB’s deflation obsession

Originally Published: Project Syndicate, 6 September 2019

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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Daniel Gros Daniel Gros
Daniel Gros