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

Author

Listed:
  • Luigi Bonatti

    (University of Trento)

  • Roberto Tamborini

    (University of Trento)

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.

Suggested Citation

  • Luigi Bonatti & Roberto Tamborini, 2022. "High Inflation: Is It the New Challenge for the Main Central Banks?," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 130(1), pages 3-28.
    • Handle: RePEc:vep:journl:y:2022:v:130:i:1:p:3-28
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    Cited by:

    1. Asier Baquero, 2022. "Job Insecurity and Intention to Quit: The Role of Psychological Distress and Resistance to Change in the UAE Hotel Industry," IJERPH, MDPI, vol. 19(20), pages 1-20, October.

    More about this item

    Keywords

    Supply-chain disruptions; Price hikes; Temporary inflation; Expectations de-anchoring; Stagflation;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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