The ECB's new inflation target from a short- and long- term perspective

被引：1
|
作者：
Benigno, Pierpaolo [1 ]
Canofari, Paolo [2 ]
Di Bartolomeo, Giovanni [3 ,4 ]
Messori, Marcello [5 ]
机构：
[1] Univ Bern, Dept Econ, Bern, Switzerland
[2] Univ Politecn Marche, Dept Econ & Social Sci, Ancona, Italy
[3] Sapienza Univ Rome Italy, Dept Econ & Law, Rome, Italy
[4] Univ Antwerp, Dept Econ, Antwerp, Belgium
[5] Luiss Guido Carli, Dept Econ & Finance, Rome, Italy
来源：
JOURNAL OF POLICY MODELING | 2023年 / 45卷 / 02期
关键词：
European Central Bank; Inflation expectations; Stagflation; Policy mix;
D O I：
10.1016/j.jpolmod.2023.03.004
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The ECB's target was recently revised, specifying that the 2%-inflation-rate threshold must be applied sym-metrically and with a medium-term orientation. In the current phase, characterized by high inflation rates and a growing risk of stagnation in the euro area, this revision of the monetary policy strategy is crucial for explaining the recent decisions of the ECB and forecasting their possible evolution. However, monetary policy can only become one of many policy tools in the euro area. Therefore, there is room for a compelling policy mix necessary to control excessive inflation and to support the medium-term sustainable growth of the European economy. (c) 2023 Published by Elsevier Inc. on behalf of The Society for Policy Modeling.
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页码：286 / 304
页数：19
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