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the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …
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the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …
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Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...
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