There are no discernible macroeconomic benefits that would compensate for the obvious costs of increased inflation – higher risk premia and higher long-term interest rates, to name just two. And we should never forget that low inflation preserves the purchasing power of our most vulnerable and poorer fellow citizens.
In terms of economic structures, euro area countries show a high degree of similarity, with well diversified production and consumption structures that should reduce the risks of asymmetrical disturbances.