Inflation in the euro area has been falling steadily since early 2013 and at the end of 2014 turned negative. Part of … by means of sign restrictions) on inflation in the euro area. The analysis suggests that in the last two years inflation … Bank from reducing the short-term rates to support economic activity and align inflation with the definition of price …

We assess the relevance of the monetary policy of the ECB in the context of persistent inflation differentials among … adopted an appropriate monetary policy rule to prevent low inflation countries from a deflationary spiral, but that it did not … consider the negative effects induced as a consequence on the countries with a higher inflation rate. This raises the question …