Rostagno, Massimo; Altavilla, Carlo; Carboni, Giacomo; … - 2021
inflation would have been 1.1 p.p. and 0.75 p.p. lower, respectively, and the unemployment rate 1.1 p.p. higher than they … alternative histories for the euro area macro-economy that one would likely have observed between 2013 and 2020 in no-NIRP (with …