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Monetary policy with transitory vs. permanently low growth

Christophe Blot and Paul Hubert
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Christophe Blot: Observatoire français des conjonctures économiques
Paul Hubert: Observatoire français des conjonctures économiques

Sciences Po publications from Sciences Po

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)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
Date: 2018-11
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