Can Central Banks Successfully Lean against Global Headwinds?

Malte Rieth ()

No 88, DIW Roundup: Politik im Fokus from DIW Berlin, German Institute for Economic Research

Abstract: Despite expansionary central bank action, inflation remains low in the euro area. How much can we expect from the additional stimulus in face of anaemic global growth and declining oil prices? More generally, have central banks lost the ability to steer inflation in a globalised world where external factors have powerful effects on domestic inflation? This roundup summarises the evidence in the literature and concludes that central banks retain influence on domestic inflation.

Pages: 5 p.
Date: 2015
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Citations: View citations in EconPapers (2)

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