Wieland, Volker; Wolters, Maik - Institut für Weltwirtschaft (IfW) - 2014
The recent decline in euro area inflation has triggered new calls for additional monetary stimulus by the ECB in order … inflation expectations, output gaps and other factors driving current inflation through the lens of the Phillips curve. It also … output-inflation nexus at low trend inflation. The note concludes from this evidence that the risk of a self …