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Seminar by Gregory Claeys: Monetary Options of the ECB to Address Low Inflation
ADBI's Seminar Series brings eminent persons to ADBI to encourage debate among policymakers, researchers, academics, think tanks, and other audiences interested in economic development challenges in the Asia and Pacific region.
Grégory Claeys, a French and Spanish citizen, joined Bruegel as a research fellow in February 2014. His research interests include central banking, financial economics, international macro and finance. From 2006 to 2009 he worked as a macroeconomist in the Economic Research Department of the French bank Crédit Agricole where he was in charge of forecasts and analysis of the economic developments for various countries. Prior to joining Bruegel he also held various short-term positions as a visiting researcher in the financial research department of the Central Bank of Chile in Santiago, as an economist in the Economic Department of the French Embassy in Chicago and as a financial auditor in Paris.
Given that inflation in the eurozone has been falling since late 2011 and has been below 1% since October 2013, this seminar will assess the current risk of deflation for the eurozone. What are the drawbacks of low inflation? Could there be negative consequences for undermining the trust in the ECB's ability to keep inflation close to 2% in the medium term? Which monetary policy tools are at the disposal of the ECB to influence inflation, in particular in the core countries of the eurozone, and what would be the effectiveness and possible side effects of the deployment of these tools.
Policymakers, academics, outside researchers, and the general public; approximately 30 participants.
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