European Parliament Library

The Maastricht Inflation Criterion :, How Unpleasant Is Purgatory?, Ales Bulir, Jaromír Hurník

Abstract
The Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank. While the criterion has positively influenced the public stance toward low inflation, it has biased the choice of the disinflation strategy toward short-run, fiat measures-rather than adopting structural reforms with longer-term benefits-with unpleasant consequences for the efficiency of the eurozone transmission mechanism. The criterion is also unnecessarily tight for new member countries as it mainly reflects cyclical developments
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. INFLATION IN THE EUROPEAN UNION""; ""III. HOW COSTLY CAN DISINFLATION BE AND WHY?""; ""IV. POLICY IMPLICATIONS""; ""V. CONCLUSIONS""; ""References""
Language
eng
Literary Form
non fiction
Note
"June 2006."
Physical Description
1 online resource (43 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451909203

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