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"Institutional Overburdening" to a large extent was a consequence of the "Great Moderation". This term indicates that it was a period in which inflation had come down from rather high levels. Growth and employment were at least satisfying and variability of output had substantially declined. It...
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This Policy White Paper assesses several main elements of ECB's upcoming review of its monetary policy strategy …, announced in January 2020. Four aspects of the review are discussed in detail: i) ECB's definition of price stability and the … arguments for and against inflation targeting; ii) the scope of ECB's objectives, considering financial stability, employment …
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. Finally, after arguing that the ECB's monetary policy which fruitfully combines past experience and current research is a …
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the recent debate among economists concerning the question whether the ECB's OMT program is compatible with its mandate. …
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