Fève, Patrick; Matheron, Julien; Sahuc, Jean-Guillaume - 2010
unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low … frequency movements of inflation, might possibly explain these developments. To highlight this issue, the present study … estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1 - 2004Q4. Based on a small …