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Here Comes The Change The Role Of Global And Domestic Factors In Post Pandemic Inflation In Europe
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Book Synopsis Here Comes the Change: The Role of Global and Domestic Factors in Post-Pandemic Inflation in Europe by : Mahir Binici
Download or read book Here Comes the Change: The Role of Global and Domestic Factors in Post-Pandemic Inflation in Europe written by Mahir Binici and published by International Monetary Fund. This book was released on 2022-12-09 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global inflation has surged to 7.5 percent in August 2022, from an average of 2.1 percent in the decade preceding the COVID-19 pandemic, threatening to become an entrenched phenomenon. This paper disentangles the confluence of contributing factors to the post-pandemic rise in consumer price inflation, using monthly data and a battery of econometric methodologies covering a panel of 30 European countries over the period 2002-2022. We find that while global factors continue to shape inflation dynamics throughout Europe, country-specific factors, including monetary and fiscal policy responses to the crisis, have also gained greater prominence in determining consumer price inflation during the pandemic period. Coupled with increasing persistence in inflation, these structural shifts call for significant and an extended period of monetary tightening and fiscal realignment.
Book Synopsis Reimagining Systems Thinking in a Post-Pandemic World by : Azukas, M. Elizabeth
Download or read book Reimagining Systems Thinking in a Post-Pandemic World written by Azukas, M. Elizabeth and published by IGI Global. This book was released on 2023-07-03 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic caused the largest systemic disruption in history. The pandemic was a complex phenomenon that impacted economic, political, and education systems. The pandemic had widespread business impacts, having forced many businesses to close, and the world is still impacted by the effects of supply chain disruptions. The pandemic also impacted political systems with disputes over mask mandates, lockdowns, and vaccine distribution. The COVID-19 pandemic further caused the most extensive education system disruption in history. The pandemic has highlighted the worlds complex interdependent structures, and it will require a multidisciplinary systems thinking approach for post-pandemic recovery and future pandemic prevention. Reimagining Systems Thinking in a Post-Pandemic World examines the role of systems thinking in a post-pandemic world. It identifies effective models of systems thinking and destems design and generates continuous knowledge building on systems thinking by addressing a multitude of industries and service communities. This book provides value in understanding the complexities of an interconnected world and in the exploration of effective approaches to systems thinking and design. Covering topics such as blended learning, local governments, and systems thinking, this premier reference source is an excellent resource for practitioners, policymakers, healthcare providers, business leaders and managers, educators of both K-12 and higher education, pre-service teachers, administrators and faculty, teacher educators, sociologists, librarians, researchers, and academicians.
Book Synopsis The 2020-2022 Inflation Surge Across Europe: A Phillips-Curve-Based Dissection by : Chikako Baba
Download or read book The 2020-2022 Inflation Surge Across Europe: A Phillips-Curve-Based Dissection written by Chikako Baba and published by International Monetary Fund. This book was released on 2023-02-10 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis High Inflation in the Baltics: Disentangling Inflation Dynamics and Its Impact on Competitiveness by : Alice Fan
Download or read book High Inflation in the Baltics: Disentangling Inflation Dynamics and Its Impact on Competitiveness written by Alice Fan and published by International Monetary Fund. This book was released on 2024-03-15 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies and quantifies the drivers of inflation dynamics in the three Baltic economies and assesses the effectiveness of fiscal policy in fighting inflation. It also analyzes the macroeconomic impact of inflation on competitiveness by focusing on the relationship between wages and productivity in the tradeable sector. The results reveal that inflation in the Baltics is largely driven by global factors, but domestic demand matters as well, suggesting that fiscal policy can play a role in containing inflation. Also, there is robust evidence of a long-run (cointegration) relationship between (real) wages in the tradeable (manufacturing) sector and productivity in the Baltics with short-term deviations self-correcting in Estonia and Lithuania only.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :27 pages Book Rating :4.4/5 (2 download)
Book Synopsis Republic of Kazakhstan by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Republic of Kazakhstan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-02-07 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues
Book Synopsis Is Inflation Good for Business? The Firm-Level Impact of Inflation Shocks in the Baltics, 1997-2021 by : Mr. Serhan Cevik
Download or read book Is Inflation Good for Business? The Firm-Level Impact of Inflation Shocks in the Baltics, 1997-2021 written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2024-03 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a large panel of firm-level data, this paper provides an analysis of how inflation shocks in the Baltics between 1997 and 2021 affected total factor productivity (TFP), gross profitability, and net fixed investment in nonfinancial sectors. First, we find that inflation and inflation volatility had mixed effects on TFP growth, profitability and net fixed investment in the first year as well as over the medium term, albeit at a dissipating rate. Second, focusing on subsamples, we find that inflation shocks had differential effects on large versus small firms. Third, we explore sectoral heterogeneity in how firms responded to inflation shocks and observe significant variation across tradable and non-tradable sectors. Finally, estimates from a state-dependent model suggest that firms’ response to inflation shocks varied with the state of the economy. The results suggest that nonfinancial firms in the Baltics have been agile in adjusting to inflation shocks, possibly by either transferring higher production costs to consumers or substituting inputs. Given the differences in the level and nature of the recent inflation shock and the sample period on which our analysis is based, empirical findings presented in this paper might not necessarily apply to the latest bout of inflation in the Baltics.
Book Synopsis It’s Never Different: Fiscal Policy Shocks and Inflation by : Mr. Serhan Cevik
Download or read book It’s Never Different: Fiscal Policy Shocks and Inflation written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2023-05-12 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period 1970–2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal policy stance. Second, we split the sample and observe an intriguing pattern that fiscal policy shocks are primarily significant in developing countries. Third, the inflationary impact of fiscal policy shocks is dependent on fiscal space and economic conditions, as well as monetary policy type, exchange rate regimes and fiscal rules, at the time of the shock. We confirm these results by using the narrative approach and forecast errors, as well as cyclically- adjusted data on government revenues and non-interest expenditures, to identify exogenous changes in fiscal policy. The analysis has several important policy implications: (i) fiscal policy is a critical anchor of macroeconomic stability; (ii) fiscal policy should be used with care in aggregate demand management as it has significant effects on inflation, which are highly dependent on fiscal space and economic conditions; and (iii) flexible exchange rates and rule-based policymaking provide greater resilience to inflationary shocks.
Book Synopsis Creating Economic Stability Amid Global Uncertainty by : Enrique Murillo
Download or read book Creating Economic Stability Amid Global Uncertainty written by Enrique Murillo and published by Springer Nature. This book was released on 2023-11-20 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 impacted economic activity in a way that hurt households, businesses, industries, and governments. What followed immediately was a period of high uncertainty, and what’s to come is still unknown. Economists have a lot to learn from this point in history, as different countries have handled this very differently from others. This book journeys through what one emerging economy has done to attempt recovery following immense disruption: Mexico's recovery following the pandemic. This volume offers empirical studies that trace the post-pandemic recovery period in Mexico, providing insight into what this emergent economy went through and did after 2021. The first part of the book examines macroeconomics, such as tax collection, and microeconomics, such as household income. These chapters draw on policy and the actions driving the economic recover in this emergent economy. The second half of the book focuses on what organizations can do to improve internal governance as well as market success. Full of new conceptual and empirical studies, the book explains what it looks like to rebuild an emerging economy. It will appeal to economists, economic scholars, and policymakers trying to make sense of the best ways to move forward following intense period of economic instability.
Book Synopsis This Is Going to Hurt: Weather Anomalies, Supply Chain Pressures and Inflation by : Mr. Serhan Cevik
Download or read book This Is Going to Hurt: Weather Anomalies, Supply Chain Pressures and Inflation written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2024-04-05 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: As climate change accelerates, the frequency and severity of extreme weather events are expected to worsen and have greater adverse consequences for ecosystems, physical infrastructure, and economic activity across the world. This paper investigates how weather anomalies affect global supply chains and inflation dynamics. Using monthly data for six large and well-diversified economies (China, the Euro area, Japan, Korea, the United Kingdom, and the United States) over the period 1997-2021, we implement a structural vector autoregressive model and document that weather anomalies could disrupt supply chains and subsequently lead to inflationary pressures. Our results—based on high-frequency data and robust to alternative estimation methodologies—show that these effects vary across countries, depending on the severity of weather shocks and vulnerability to supply chain disruptions. The impact of weather shocks on supply chains and inflation dynamics is likely to become more pronounced with accelerating climate change that can have non-linear effects. These findings have important policy implications. Central bankers should consider the impact of weather anomalies on supply chains and inflation dynamics to prevent entrenching second-round effects and de-anchoring of inflation expectations. More directly, however, governments can invest more for climate change adaptation to strengthen critical infrastructure and thereby minimize supply chain disruptions.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :45 pages Book Rating :4.4/5 (2 download)
Book Synopsis Kyrgyz Republic by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Kyrgyz Republic written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-03-04 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kyrgyz Republic: Selected Issues
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 : Total Pages :50 pages Book Rating :4.4/5 (2 download)
Book Synopsis Singapore by : International Monetary Fund. Asia and Pacific Dept
Download or read book Singapore written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2024-07-31 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Singapore: Selected Issues
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 : Total Pages :32 pages Book Rating :4.4/5 (2 download)
Book Synopsis Brunei Darussalam by : International Monetary Fund. Asia and Pacific Dept
Download or read book Brunei Darussalam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2024-09-24 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brunei Darussalam: Selected Issues
Book Synopsis Global Trends 2040 by : National Intelligence Council
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Book Synopsis The Distributional Implications of the Impact of Fuel Price Increases on Inflation by : Mr. Kangni R Kpodar
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Book Synopsis The Economics of World War I by : Stephen Broadberry
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Author :International Monetary Fund. Research Dept. Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781513556055 Total Pages :203 pages Book Rating :4.5/5 (56 download)
Book Synopsis World Economic Outlook, October 2020 by : International Monetary Fund. Research Dept.
Download or read book World Economic Outlook, October 2020 written by International Monetary Fund. Research Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-10-13 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. While recovery in China has been faster than expected, the global economy’s long ascent back to pre-pandemic levels of activity remains prone to setbacks.
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
