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

Label
The Maastricht Inflation Criterion :, How Unpleasant Is Purgatory?, Ales Bulir, Jaromír Hurník
Language
eng
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
Bibliography note
Includes bibliographical references
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
The Maastricht Inflation Criterion :
Nature of contents
dictionaries
Oclc number
694141167
Responsibility statement
Ales Bulir, Jaromír Hurník
Series statement
IMF Working Papers
Sub title
How Unpleasant Is Purgatory?
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""
Content
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