with inflation targeting, characterized by relocation shocks for young agents, which in turn generates a role for money … productive in our model, a higher inflation-target would translate into higher growth, but under multiple equilibria, this is not …

volume, an early exit, and a faster exit from the program on output and inflation in the euro area. Model simulations showed … that economic growth and inflation rates would decrease in all three scenarios. However, the effects of the scenario with … particular, an early exit from the program should significantly affect inflation rates, an effect that the European Central Bank …