Consolo, Agostino; Koester, Gerrit; Nickel, Christiane; … - 2021
. Evidence accumulated since 2003 suggests that nominal rigidities remain a prevalent feature of the euro area, with some … strong argument for a positive inflation buffer to “grease the wheels” of the euro area economy – also in order to avoid the … binding and particularly when productivity growth is low. Inflation differentials across euro area countries have tended to be …