deflation

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Podcast

Podcast

Backstage: Japan’s inflation problem and monetary policy options

Bruegel senior fellow Zsolt Darvas welcomes Sayuri Shirai, professor at Keio University, visiting scholar at the Asian Development Bank Institute and former Member of the Policy Board of the Bank of Japan (BOJ), for a discussion of the Japanese monetary policy outlook. 

By: The Sound of Economics Topic: Global Economics & Governance Date: October 26, 2018
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Blog Post

Raising the inflation target: a question of robustness

In an unexpected move, the Federal Reserve Chair Janet Yellen has recently brought up the issue of raising the inflation target. This blog argues that an increase in inflation targets may prove to be beneficial in achieving price stability in the long run. This would increase the credibility of central banks in achieving inflation goals and stave off the distortionary effects of deflation.

By: Maria Demertzis Topic: European Macroeconomics & Governance Date: June 22, 2017
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Blog Post

Still vulnerable: the euro area’s small and medium-sized banks

In our recent research we show that the small and medium-sized banks (SMBs) – and among them the unlisted banks – remain under considerable stress.

By: Ashoka Mody and Guntram B. Wolff Topic: Finance & Financial Regulation Date: August 14, 2015
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Blog Post

Understanding the neo-fisherite rebellion

The idea that low interest rates are deflationary – that we’ve had the sign on monetary policy wrong! – started as a fringe theory on the corners of the blogosphere 3 years ago. Michael Woodford has now confirmed that modern theory, indeed, implies the Neo-Fisherian view when people’s expectations are infinitely rational.

By: Jérémie Cohen-Setton Topic: European Macroeconomics & Governance Date: July 19, 2015
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Blog Post

Is low inflation translating into lower wage growth in Germany already?

Low inflation in Germany is a big concern not just because of its importance for the euro area aggregate but also because it makes relative price adjustment for the euro area periphery harder. This blog post looks at recent wage growth in Germany and scheduled pay increases determined through collective bargaining agreements for 2015.

By: Allison Mandra Topic: European Macroeconomics & Governance Date: January 8, 2015
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Blog Post

Deflation in France, hidden behind tax hikes?

The significant divergence between the core inflation measures for France reported respectively by Eurostat and the national statistical office (INSEE) is due to the different definitions used. While the former defines core inflation simply as the overall inflation index excluding energy and unprocessed food, the INSEE defines core inflation as inflation excluding public sector prices, the most volatile consumer prices and tax measures.

By: Grégory Claeys and Pia Hüttl Topic: European Macroeconomics & Governance Date: December 22, 2014