The return of inflation

Swiss Journal of Economics and Statistics

Commentary

Ernst Baltensperger¹ 

[1] Department of Economics, University of Bern, Bern, Switzerland;

关键词: Inflation;    Central banks;    Monetary policy;    Price stability;   

DOI  :  10.1186/s41937-023-00114-x

 received in 2023-04-17, accepted in 2023-05-23,  发布年份 2023

来源: Springer

【 摘 要 】

For a quarter of a century, the western world has enjoyed a macroeconomic environment characterized by low and stable inflation. Over the last two years, this benign state has dramatically changed. In America and Europe, inflation has resurged with unexpected vigor. Treated at first by central banks and most of their observers as a mere temporary aberration, which would soon fade again without much need for action, it has since assumed a virulence which has forced central banks to tighten their policies much more forcefully than was initially expected. How did all this come about? How are central banks and their monetary policies to be judged?

【 授权许可】

CC BY   
© The Author(s) 2023

【 图 表 】

Fig. 3