Hall, Peter A.; Franzese, Robert J. - Wissenschaftszentrum Berlin für Sozialforschung (WZB) - 1997
. Thus, currency unions like the EMU may require higher levels of unemployment to control inflation than their proponents … central bank can reduce inflation without any real economic effects. However, the theoretical and empirical bases for this … signals between the bank and the bargainers moreor less effective. Greater independence can reduce inflation without …