Did the ECB Overstep Its Mandate?
Ulrich Fritsche () and
Intereconomics: Review of European Economic Policy, 2015, vol. 50, issue 3, 165-170
Recent price developments in the euro area demonstrate that deflation is a serious issue of concern. Some euro area countries are already facing a deflation in the usual macroeconomic sense of a “general price decline”. This article discusses the economic consequences of deflation and suggests that the ECB’s expansionary monetary policy was inevitable. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015
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