The ECB and the Ukraine war: threats to price, economic and financial stability

Luigi Bonatti, () and Roberto Tamborini

No 2022/3, DEM Working Papers from Department of Economics and Management

Abstract: As a consequence of the Ukraine war, in the aftermath of the COVID-19 pandemic, monetary policy in the euro area is severely challenged by the convergent threats to price, economic, and financial stability. After examining them, we argue that the burden of the euro area stability cannotbeleftentirelyontheshouldersofthecentralbank.Thesuccessful synergic coordination of monetary policy with central and national fiscal policies inaugurated in response to the pandemic should be strengthened. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 June 2022.

Date: 2022
New Economics Papers: this item is included in nep-cba, nep-cis, nep-mon and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:trn:utwprg:2022/3

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