The 2020 2022 Inflation Surge Across Europe A Phillips Curve Based Dissection
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The 2020 2022 Inflation Surge Across Europe A Phillips Curve Based Dissection
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Author : Chikako Baba
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-10
The 2020 2022 Inflation Surge Across Europe A Phillips Curve Based Dissection written by Chikako Baba and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-10 with Business & Economics categories.
In 2021-22, inflation in Europe soared to multidecade highs, consistently exceeding policymakers’ forecasts and surprising with its wide cross-country dispersion. This paper analyzes the key drivers of the inflation surge in Europe and its variation across countries. The analysis highlights significant differences in Phillips curve parameters across Europe’s economies. Inflation is more sensitive to domestic slack and external price pressures in emerging European economies compared to their advanced counterparts, which contributed to a greater passthrough of global commodity price shocks into domestic prices, and, consequently, to larger increases in inflation rates. Across Europe, inflation also appears to have become increasingly backward looking and more sensitive to commodity price shocks since the onset of the COVID-19 pandemic. This finding helps explain why conventional (Phillips curve) inflation models consistently underpredicted the 2021-2022 inflation surge, although it remains too early to conclude there has been a structural break in the inflation process.
Has The Phillips Curve Become Steeper
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Author : Mr. Anil Ari
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-12
Has The Phillips Curve Become Steeper written by Mr. Anil Ari and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-12 with Business & Economics categories.
This paper analyzes whether structural changes in the aftermath of the pandemic have steepened the Phillips curves in advanced economies, reversing the flattening observed in recent decades and reducing the sacrifice ratio associated with disinflation. Particularly, analysis of granular price quote data from the UK indicates that increased digitalization may have raised price flexibility, while de-globalization may have made inflation more responsive to domestic economic conditions again. Using sectoral data from 24 advanced economies in Europe, higher digitalization and lower trade intensity are shown to be associated with steeper Phillips curves. Post-pandemic Phillips curve estimates indicate some steepening in the UK, Spain, Italy and the euro area as a whole, but at magnitudes that are too small to explain the entire surge in inflation in 2021–22, suggesting an important role for outward shifts in the Phillips curve.
The Irish Yearbook Of International Law Volume 16 2021 2022
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Author : Bríd Ní Ghráinne
language : en
Publisher: Bloomsbury Publishing
Release Date : 2025-02-06
The Irish Yearbook Of International Law Volume 16 2021 2022 written by Bríd Ní Ghráinne and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-06 with Law categories.
The Irish Yearbook of International Law supports research into Ireland's practice in international affairs and foreign policy, filling a gap in existing legal scholarship. This new volume covers the years 2021 and 2022, including global events such as the COVID-19 pandemic, Brexit fall-out, the Taliban's return to power in Afghanistan, a civil war in Ethiopia, protests in Iran, and Russia's unlawful invasion of Ukraine. Reports also cover topics on human rights in Ireland, the law of the sea, the exploitation of mineral resources of celestial bodies by private enterprises and the protection of the right to food, among others. Additionally, the book includes four book reviews covering a range of international law subjects, such as international economic law, colonialism and the protection of animals in armed conflict.
Europe In The New World Economy Opportunities And Challenges
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Author : Luminita Chivu
language : en
Publisher: Springer Nature
Release Date : 2024-11-25
Europe In The New World Economy Opportunities And Challenges written by Luminita Chivu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-11-25 with Business & Economics categories.
The transition from traditional economic patterns to a model marked by enhanced efficiency, environmental responsibility, and the adaptation to a “new normal” economic philosophy marks a pivotal moment in understanding Europe’s economic ecosystem within the new world economy. However, the reliance on conventional economic philosophies has often overlooked the broader economic and social landscapes in which these paradigms operate. This volume explores emerging research topics, methodologies, and techniques that are essential to understanding the global economy dynamics and growth patterns under crisis circumstances and persistent uncertainties. Featuring contributions presented at the 2023 International Conference “Economic Scientific Research - Theoretical, Empirical and Practical Approaches” (ESPERA) held in Bucharest Romania in honor of the 50th Anniversary of the National Institute for Economic Research “Costin C. Kiritescu” of the Romanian Academy, this book offers theoretical and practical contributions as well as quantitative and qualitative analyses providing valuable inputs for the design of adequate strategies and policies, aimed to address the future challenges and to capitalize on the emerged opportunities. From sustainable development to digital innovation, this book examines the dynamic landscape of European economics and underscores the significance of interdisciplinary approaches and technological advancements in fostering economic resilience and growth. The contents of this book are of interest to scholars, researchers, students, practitioners, and policy makers in economics and business transformation.
Causes And Implications Of Elevated Inflation In Cyprus
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Author : Robert C. M. Beyer
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-07
Causes And Implications Of Elevated Inflation In Cyprus written by Robert C. M. Beyer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-07 with Business & Economics categories.
Inflation has risen sharply in Cyprus, initially driven by imported prices, but increasingly broadening to domestic prices. A Phillips Curve estimate attributes the high inflation largely to energy prices, external price pressures, and inflation expectations at the end of 2022. Historically high pass-through of inflation shocks to wages—amplified by a tight labor market—may make inflation persistent. This calls for policies to stem inflationary pressures while protecting vulnerable households.
Inflation In Portugal
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Author : Mr. Kamil Dybczak
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-10
Inflation In Portugal written by Mr. Kamil Dybczak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-10 with Business & Economics categories.
This paper examines recent trends, main drivers, and risks to near-term inflation in Portugal. Before the energy crisis, inflation in Portugal was low, often below the Euro Area average, but it accelerated quickly in the second half of 2022. Our estimated Phillips curve regression suggests that, similarly to other Euro Area countries, inflation in Portugal has been largely driven by food and external prices pressures. Inflation is projected to gradually decrease, reflecting receding energy prices and anchored inflation expectations. However, uncertainty remains high and inflation could remain elevated, especially if the inflationary process became backward looking or wage-inflation spirals are induced by pressures from energy prices.
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Author :
language : en
Publisher: LIT Verlag Münster
Release Date :
written by and has been published by LIT Verlag Münster this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Macroeconomic Challenges To Structural Reform And Industrial Development
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Author : Meçik, Oytun
language : en
Publisher: IGI Global
Release Date : 2024-10-03
Macroeconomic Challenges To Structural Reform And Industrial Development written by Meçik, Oytun and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-03 with Business & Economics categories.
Nations are at a pivotal moment, grappling with significant macroeconomic challenges that impede structural reform and industrial development. From volatile global markets to domestic pressures of modernization and workforce transitions, they must address complex economic hurdles while striving to build competitive and sustainable industries. In this context, policymakers, economists, and researchers must work together to design and implement innovative strategies that can drive structural transformation, enhance industrial capacity, and secure long-term growth and stability. Macroeconomic Challenges to Structural Reform and Industrial Development brings together a diverse array of expert perspectives to explore the complex macroeconomic challenges facing structural reform and industrial development. By synthesizing the latest research findings, empirical evidence, and policy insights, the book offers a nuanced understanding of the key forces shaping these economic trajectories. Covering topics such as corrupt governments, post-growth economy, and sustainable growth, this book is an excellent resource for policymakers, economists, researchers, academics, and students.
Republic Of Kazakhstan
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-07
Republic Of Kazakhstan written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-07 with Business & Economics categories.
Selected Issues
Modeling Economic Growth In Contemporary Czechia
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Author : Daniel Stavárek
language : en
Publisher: Emerald Group Publishing
Release Date : 2024-04-08
Modeling Economic Growth In Contemporary Czechia written by Daniel Stavárek and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-08 with Business & Economics categories.
Separated into four distinct parts, Modeling Economic Growth in Contemporary Czechia explores economic growth in Czechia from the perspectives of the dynamics of the economy, setting up of the economic policies, functioning of the markets and institutions, and the contribution of specific industry sectors to economic growth.