Fève, P.; Matheron, J.; Sahuc, J-G. - Banque de France - 2009
The present paper investigates the dynamic effects of disinflation shocks for a number of real macroeconomic variables … in the euro area. Using structural VARs, we identify disinflation shocks as the only shocks that can exert a long … disinflation shock, inefficiencies in the labor market seem to prevail. These conclusions are robust to modifications of our …