Monetary policy with transitory vs. permanently low growth

Christophe Blot () and Paul Hubert ()
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Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po
Paul Hubert: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: The recent economic slowdown in the euro area depends on supply-side and demand-side factors with different consequences on potential output. On the one hand, it may grow at a low pace for a long time; on the other hand, it may soon grow a bit faster. The ECB strategy has to adapt to these different possible outcomes. Anyway, we argue that the ECB has rooms for manoeuvre whatever the trend in output

Keywords: ECB; Monetary Policy; Growth; Slowdown (search for similar items in EconPapers)
Date: 2018-11
Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03404318
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Published in [Research Report] European Parliament. 2018

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Working Paper: Monetary policy with transitory vs. permanently low growth (2018)
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