Eurozone soft landing depends on Phillips curve – Schnabel
Executive board member says evidence is hard to read, calling for “robust” policy-making
The eurozone’s hopes of returning to the 2% target without a major economic downturn depend heavily on the shape of the underlying Phillips curve, or curves, Isabel Schnabel said on August 31.
The European Central Bank executive board member noted, however, that judging the evidence is not a straightforward task.
She told a conference in Frankfurt that not only does the slope of the curve vary over time, but there also appear to be different curves in different sectors of the economy and
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