全球通胀和全球货币政策收紧:对欧元区的影响

Q1 Economics, Econometrics and Finance

Intereconomics Pub Date : 2023-06-01 DOI:10.2478/ie-2023-0031

R. Moessner, Dora Xia, Fabrizio Zampolli

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引用次数: 1

摘要

自2019冠状病毒病大流行爆发以来，与过去二十年相比，全球因素在塑造通胀动态方面发挥了重要得多的作用。因此，全球货币紧缩的同步程度达到了前所未有的程度，突显出通过总需求、汇率和金融渠道产生的跨国货币政策溢出效应的重要性。在回顾了最近的通货膨胀发展之后，本文讨论了汇率溢出效应如何对通货膨胀前景施加上行压力，使欧洲央行货币政策立场的评估复杂化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Global Inflation and Global Monetary Policy Tightening: Implications for the Euro Area

Since the outbreak of the COVID-19 pandemic, global factors have played a much more important role in shaping inflation dynamics than over the previous two decades. As a result, global monetary tightening has been synchronised to an unprecedented degree, bringing to the fore the importance of cross-country monetary policy spillovers through aggregate demand, exchange rate and financial channels. After reviewing recent inflation developments, the article discusses how exchange rate spillovers can put upward pressure on the inflation outlook complicating the assessment of the ECB’s monetary policy stance.

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来源期刊

Intereconomics Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

5.00

自引率

0.00%

发文量

审稿时长

16 weeks

期刊介绍： Intereconomics publishes papers dealing with economic and social policy issues in Europe respectively in Euroland. The journal consists of the sections editorial, forum and articles. The editorial section contains brief comments on current questions of economic policy in Europe or effecting Europe. In the forum, several authors (researchers, politicians, representatives of trade unions and of employers associations etc.) voice their opinions on one particular current economic policy problem effecting Europe. The articles deal with economic policy issues and trends in Europe. They are mostly written by researchers in economics. Officially cited as: Intereconomics