Adam, Klaus; Gautier, Erwan; Santoro, Sergio; Weber, Henning - 2021
these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal inflation … France, 1.2%-2.0% in Germany, 0.8%-1.0% in Italy, and 1.1-1.7% in the Euro Area (three country average). Differences across … account in the present paper may push up the optimal inflation targets further. The welfare costs associated with targeting …