High Inflation: Is It the New Challenge for the Main Central Banks?

Luigi Bonatti () and Roberto Tamborini
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Luigi Bonatti: University of Trento

Rivista Internazionale di Scienze Sociali, 2022, vol. 130, issue 1, 3-28

Abstract: In this study, we briefly review the macroeconomic theory of inflation, relating it to the recent developments in advanced economies. Then, we analyse the drivers of the rise in inflation observed in 2021 in the United States and in Europe, and we illustrate the factors that may affect the inflationary scenario of the advanced economies in the longer term. Finally, we discuss what challenges the Federal Reserve and the European Central Bank have to meet in the face of current inflationary pressures.

Keywords: Supply-chain disruptions; Price hikes; Temporary inflation; Expectations de-anchoring; Stagflation (search for similar items in EconPapers)
JEL-codes: E31 E58 (search for similar items in EconPapers)
Date: 2022
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