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So far apart and yet so close: Should the ECB care about inflation differentials?

by Zsolt Darvas and Guntram B. Wolff on 22nd September 2014

So far apart and yet so close: Should the ECB care about inflation differentials?

It is crucial to keep the average inflation rate close to two percent so that inflation differentials are possible without deflation in some parts of the euro area, which in turn might endanger area-wide financial stability and price stability.

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