prolonged period of low inflation in the euro area. This article offers a narrative of the monetary policy measures taken up to …

function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous … in the GDP price de ator. We resort to the fixed effects and to the random effects models for a panel of 12 euro area … variables are positively correlated with the primary balance to GDP ratio. This holds both for the fixed and for the random …