Barrell, Ray (contributor); Becker, Bettina (contributor); … - 2003 - [Elektronische Ressource]
’ policy, versus the ‘accommodating’ policy of shifting the target.
13
output growth in Germany and the EU under active and …
s
e
German Output Euro Area Output
Figure 6: Inflation in Germany and the EU – accommodating monetary policy
-0.8
-0 … budget
deficit widened to well above the ceiling of 3 per cent of GDP. Since the first quarter
of 2003, the German economy …