Italian paper: Reforms could lead to earlier exit from ZLB
Structural reforms could help boost inflation providing investment responds
Competition-friendly reforms implemented simultaneously across the entire eurozone could lead to an earlier exit from the zero lower bound, according to research published by the Bank of Italy yesterday.
The working paper, Structural reforms and zero lower bound in a monetary union, by Andrea Gerali, Alessandro Notarpietro and Massimiliano Pisani, use a multi-country multi-sector dynamic general equilibrium to examine the effects of reforms in the service sector over the short and medium term.
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