The 2020 2022 Inflation Surge Across Europe A Phillips Curve Based Dissection PDF Download
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| Author | : Chikako Baba |
| Publisher | : International Monetary Fund |
| Total Pages | : 25 |
| Release | : 2023-02-10 |
| Genre | : Business & Economics |
| ISBN | : |
Download The 2020-2022 Inflation Surge Across Europe: A Phillips-Curve-Based Dissection Book in PDF, ePub and Kindle
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.
| Author | : Mr. Anil Ari |
| Publisher | : International Monetary Fund |
| Total Pages | : 23 |
| Release | : 2023-05-12 |
| Genre | : Business & Economics |
| ISBN | : |
Download Has the Phillips Curve Become Steeper? Book in PDF, ePub and Kindle
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.
| Author | : Robert C. M. Beyer |
| Publisher | : International Monetary Fund |
| Total Pages | : 14 |
| Release | : 2023-07-07 |
| Genre | : Business & Economics |
| ISBN | : |
Download Causes and Implications of Elevated Inflation in Cyprus Book in PDF, ePub and Kindle
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.
| Author | : Mr. Kamil Dybczak |
| Publisher | : International Monetary Fund |
| Total Pages | : 20 |
| Release | : 2023-07-10 |
| Genre | : Business & Economics |
| ISBN | : |
Download Inflation in Portugal Book in PDF, ePub and Kindle
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.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2023-06-22 |
| Genre | : Business & Economics |
| ISBN | : |
Download Portugal Book in PDF, ePub and Kindle
Portugal: Selected Issues
| Author | : Daniel Stavárek |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 353 |
| Release | : 2024-04-08 |
| Genre | : Business & Economics |
| ISBN | : 1837538409 |
Download Modeling Economic Growth in Contemporary Czechia Book in PDF, ePub and Kindle
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.
| Author | : International Monetary Fund. Middle East and Central Asia Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 27 |
| Release | : 2024-02-07 |
| Genre | : Business & Economics |
| ISBN | : |
Download Republic of Kazakhstan Book in PDF, ePub and Kindle
Selected Issues
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2023-06-05 |
| Genre | : Business & Economics |
| ISBN | : |
Download Cyprus Book in PDF, ePub and Kindle
Cyprus: Selected Issues
| Author | : Chikako Baba |
| Publisher | : International Monetary Fund |
| Total Pages | : 45 |
| Release | : 2011-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1463926626 |
Download Effectiveness of Capital Controls in Selected Emerging Markets in the 2000's Book in PDF, ePub and Kindle
This paper estimates the effectiveness of capital controls in response to inflow surges in Brazil, Colombia, Korea, and Thailand in the 2000s. Controls are generally associated with a decrease in inflows and a lengthening of maturities, but the relationship is not statistically significant in all cases, and the effects are temporary. Controls are more successful in providing room for monetary policy than dampening currency appreciation pressures. We argue that the macroeconomic impact of capital controls depends on the extensiveness of the policy, the level of capital market development, the support provided by other policies, and the persistence of capital flows.
| Author | : Niraj Arora |
| Publisher | : Springer Nature |
| Total Pages | : 713 |
| Release | : 2022-01-28 |
| Genre | : Medical |
| ISBN | : 3030902250 |
Download Procedures and Protocols in the Neurocritical Care Unit Book in PDF, ePub and Kindle
This practical book covers neuro-critical care procedures performed in medical or surgical ICU and different procedures dedicated to acute neurological care. The book's format allows for quick decisions about care and protocols while treating neurologically injured patients. Divided into two sections, the first focuses on procedures. The outlines of these chapters include indication, technique, types of kits available, and challenges. The second section covers the protocols; these chapters feature flowcharts, drugs/device, doses of drugs, description of device, indication, evidence, and future prospects. This succinct guide will serve as a go-to reference for residents, fellows, intensivists, or any healthcare personnel within neuro-critical care unit.
