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Can the side effects of sanctions and energy inflation trigger the disintegration of the international monetary regime?

Author

Listed:
  • Roberto Lampa

    (University of Macerata, Italy)

  • Gianmarco Oro

    (University of Macerata, Italy)

Abstract

This article aims to discuss the impact of the energy crisis exacerbated by the Russo-Ukrainian war on the general macroeconomic performance and income distribution of the Eurozone. We consider the restrictive monetary policies induced by the return of inflation, their declared and implicit objectives, and the contradictory consequences for the economic system. We analyse the impact of Western sanctions on the Russian economy, and discuss the long-term consequences of sanctions and political strategies on the de-dollarisation of global markets.

Suggested Citation

  • Roberto Lampa & Gianmarco Oro, 2023. "Can the side effects of sanctions and energy inflation trigger the disintegration of the international monetary regime?," PSL Quarterly Review, Economia civile, vol. 76(306), pages 225-242.
    • Handle: RePEc:psl:pslqrr:2023:33
    as

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    File URL: https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/18249/17105
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    References listed on IDEAS

    as
    1. Giacomo Cucignatto & Nadia Garbellini & Facund Fora Alcalde, 2023. "Profit-led or cost-led inflation? Propagation effects through the EU inter-industry network," PSL Quarterly Review, Economia civile, vol. 76(306), pages 261-276.
    2. Joseph Halevi, 2023. "Germany, Europe and the crisis," PSL Quarterly Review, Economia civile, vol. 76(306), pages 215-223.
    3. Michael Pettis, 2022. "Will the Chinese renminbi replace the US dollar?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 10(4), pages 499-512, July.
    4. Mr. Serkan Arslanalp & Mr. Barry J. Eichengreen & Chima Simpson-Bell, 2022. "The Stealth Erosion of Dollar Dominance: Active Diversifiers and the Rise of Nontraditional Reserve Currencies," IMF Working Papers 2022/058, International Monetary Fund.
    5. Andersson, Malin & Battistini, Niccolò & Meyler, Aidan & De Santis, Roberto A., 2022. "Does the private sector foresee a stagflation episode?," Economic Bulletin Boxes, European Central Bank, vol. 4.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Giacomo Cucignatto & Nadia Garbellini & Facund Fora Alcalde, 2023. "Profit-led or cost-led inflation? Propagation effects through the EU inter-industry network," PSL Quarterly Review, Economia civile, vol. 76(306), pages 261-276.

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    More about this item

    Keywords

    euro crisis; inflationary processes; post-war economic development;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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