achieve the inflation objective, while other instruments (minimum reserve requirements and macro prudential control) should be … used to achieve financial stability. -- inflation targeting ; financial stability ; two pillar strategy …

decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates … of inflation and growth? We find that a central bank that minimises the national welfare losses reacts less to common … the variability of common shocks is large relative to the inflation bias. For a single country, welfare is lower in this …