Claeys, Grégory; Darvas, Zsolt; Merler, Silvia; Wolff, … - Bruegel - 2014
: "Price stability is defined as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of … below, two percent inflation in the medium term. In the current European circumstances, low overall euro-area inflation … implies that in some euro-area member states inflation has to be very low or even negative in order to regain competitiveness …