designed. At the time, the main concern of the Governing Council was to anchor inflation at low levels in face of the … low-inflation environment has created the concrete risk of de-anchoring of longer-term inflation expectations. Addressing … low inflation is different from addressing high inflation. The ability of the ECB (and central banks globally) to provide …

consequences of deflation. By means of impulse response analyses and panel regressions, we find that a 1 percent fall in the price … the exchange rate raises the absolute value of the coefficient on deflation. Moreover, the debt ratio increases when … deflation is also associated with an economic recession. For government revenue, its lag yields a statistically significant …

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are: i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …