Darvas, Zsolt - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2013
Competitiveness adjustment in struggling southern euro-area members requires persistently lower inflation than in major … trading partners, but low inflation worsens public debt sustainability. When average euro-area inflation undershoots the two … percent target, the conflict between intra-euro relative price adjustment and debt sustainability is more severe. In our …