Busetti, Fabio; Ferrero, Giuseppe; Gerali, Andrea; … - Banca d'Italia - 2014
A prolonged period of low inflation, particularly in a situation of monetary policy rates near the zero lower bound … to assess the effects of a sequence of deflationary shocks, such as those that hit the euro area in 2013-14, on expected … of interest). The model is simulated with euro area data over the period 2014-16 under the assumption both of rational …