Post-Pandemic Euro-Area Inflation : Energy Shocks and Monetary Policy

The contribution of energy shocks to euro-area inflation in 2022 is larger than that of shocks to aggregate and supply, and to monetary policy. Had the ECB tightened monetary policy more than implied by the actual policy rate to counter the energy shocks, growth and inflation would have been lower. A New Keynesian model rationalises this result with a sufficiently large counter monetary policy shock

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Year of publication:	2023
Authors:	Neri, Stefano
Publisher:	[S.l.] : SSRN
Subject:	Geldpolitik \| Monetary policy \| Schock \| Shock \| EU-Staaten \| EU countries \| Inflation \| Ölpreis \| Oil price \| Eurozone \| Euro area

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Extent:	1 Online-Ressource (7 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4366562 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014260209