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Le casse tête de l'inflation dans la zone euro : c'est la tendance, pas le cycle !

Author

Listed:
  • Thomas Hasenzagl
  • Fillipo Pellegrino

    (LSE - London School of Economics and Political Science)

  • Lucrezia Reichlin

    (London Business School)

  • Giovanni Ricco

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Que se passe-t-il avec l'inflation et la productivité dans la zone euro ? La Banque centrale européenne semble avoir perdu la capacité de relever l'inflation et les anticipations de prix ont glissé depuis la dernière récession. Une grande partie du débat politique a porté sur l'aplatissement de la courbe de Phillips. Pourtant, les estimations du processus conjoint d'inflation et de production indiquent que les éléments les plus pertinents du puzzle sont la diminution du potentiel de production et de l'inflation tendancielle.

Suggested Citation

  • Thomas Hasenzagl & Fillipo Pellegrino & Lucrezia Reichlin & Giovanni Ricco, 2019. "Le casse tête de l'inflation dans la zone euro : c'est la tendance, pas le cycle !," SciencePo Working papers Main hal-03456074, HAL.
    • Handle: RePEc:hal:spmain:hal-03456074
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03456074
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    Keywords

    Inflation; Productivité; Zone euro; Banque Centrale Européenne;
    All these keywords.

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