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Monetary policy with transitory vs. permanently low growth

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
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https://hal-sciencespo.archives-ouvertes.fr/hal-03404318
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Submitted on : Friday, December 10, 2021 - 8:15:49 AM
Last modification on : Friday, March 25, 2022 - 3:58:37 AM

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Christophe Blot, Paul Hubert. Monetary policy with transitory vs. permanently low growth. [Research Report] European Parliament. 2018. ⟨hal-03404318⟩

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