RPS Submitter, Banque de France; Adam, Klaus; Gautier, Erwan - 2021
Using micro price data underlying the Harmonized Index of Consumer Prices in France, Germany and Italy, we estimate … these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal inflation … France, 1.2%-2.0% in Germany, 0.8%-1.0% in Italy, and 1.1-1.7% in the Euro Area (three country average). Differences across …