HKS Affiliated Authors
James W. Harpel Professor of Capital Formation and Growth
Excerpt
Excerpt
Why the ECB Should Buy American. Jeffrey Frankel, March 13, 2014, Opinion. "The European Central Bank needs to ease monetary policy further. Eurozone-wide inflation, at 0.8%, is below the target of “close to 2%,” and unemployment in most countries remains high. Under current conditions, it is hard for the periphery countries to reduce their costs to internationally competitive levels, as they need to do. If inflation in the eurozone as a whole is below 1%, the periphery countries are condemned to suffer painful deflation..." Link verified June 19, 2014