Where is the Euro Area headed? Restoration of price stability

Anastasios Malliaris and Mary Malliaris

Journal of Policy Modeling, 2023, vol. 45, issue 4, 848-863

Abstract: After the two recent global shocks of the COVID-19 Pandemic of 2019–2021 and the Russian invasion of Ukraine in February 2022, the 2023–24 economic priority for the Euro Area is the fight against inflation in the midst of global economic and financial uncertainties. We focus on Euro Area inflation, analyze its diagnostics, examine inflation expectations, review theories of inflation and evaluate monetary and fiscal policies prompted because of COVID-19. Then we explore policies of the European Central Bank to fight inflation and conclude that restoration of price stability in the Euro Area will remain its central focus during 2023 and 2024.

Keywords: European Economic Growth; Inflation; Monetary Policy; Global Shocks; Price Stability (search for similar items in EconPapers)
JEL-codes: E31 E43 E44 E52 E58 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:45:y:2023:i:4:p:848-863

DOI: 10.1016/j.jpolmod.2023.07.008

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