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Energy markets: shock, economic fallout and policy response

Author

Listed:
  • Fernando Avalos
  • Adam Cap
  • Deniz Igan
  • Enisse Kharroubi
  • Gabriela Nodari

Abstract

Commodity price increases this year have been larger, more persistent and more broad-based than similar past episodes of commodity price rises. The recent commodity price surge has exerted an overall stagflationary effect on the global economy, lowering growth and raising inflation. Given already high levels of inflation and of government debt, a coherent monetary and fiscal policy mix is needed even more than usual to navigate the policy challenges.

Suggested Citation

  • Fernando Avalos & Adam Cap & Deniz Igan & Enisse Kharroubi & Gabriela Nodari, 2022. "Energy markets: shock, economic fallout and policy response," BIS Bulletins 64, Bank for International Settlements.
    • Handle: RePEc:bis:bisblt:64
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