Rostagno, Massimo; Altavilla, Carlo; Carboni, Giacomo; … - 2019
The 20th anniversary of Economic and Monetary Union (EMU) offers an opportunity to look back on the ECB's record and … disinflationary. We show how the most defining element of the ECB's monetary policy framework, its characteristic definition of price … learn lessons that can improve the conduct of policy in the future. This paper charts the way the ECB has defined …