Fève, P.; Matheron, J.; Sahuc, J-G. - Banque de France - 2009
estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1-2004Q4. Based on a small …Euro area countries as a whole have experienced a marked downward trend over the 1980s. Over this period, the … unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low …