translate English to French: If firms had lower inflation expectations than workers/ unions in such a situation, they would consider a given nominal wage increase as a rather high real wage increase and may therefore reduce their workforce Lasting price stability increases the efficiency of the economy and, therefore, the welfare of households.
Afin d ’ i l l u s t re r c e l a , s u p p o s o n s q u e , d a n s u n Une stabilité des prix durable accroît l’efficacité de l’économie et par là le bien-être des ménages.