Volker Wieland and Maik Wolters in new IMFS paper: No need for additional measures by ECB
Based on their analysis with the help of the Phillips curve, Wieland sees no need for additional monetary stimulus by the European Central Bank: “The ECB best awaits the impact of the long-term refinancing operations decided in June that have the potential to induce substantial monetary accommodation once implemented for the first time in September”.
IMFS Working Paper No. 81
Is there a threat of self-reinforcing deflation in the Euro area? A view through the lens of the Phillips curve
The IMFS Working Paper is also available as: