In the revised monetary policy strategy of the European Central Bank (ECB), "price stability is best maintained by … lower bounds on inflation, within which the central bank may decide not to intervene, provided inflation is expected to …

hawkish central-bank stance on inflation expands the stability region of the system, which however remains bounded. On the …

of stagflation across the world (IMF 2022, World Bank 2022). In almost all accounts of the mounting stagflation threats a …