| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16971 |
| DP16971 Monetary Policy during Unbalanced Global Recoveries | |
| Luca Fornero; Federica Romei | |
| 发表日期 | 2022-01-30 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study optimal monetary policy during times of exceptionally high global demand for tradable goods, relative to non-tradable services. The optimal monetary response entails a rise in inflation, which helps rebalance production toward the tradable sector. While the inflation costs are fully beared domestically, however, part of the gains in terms of higher supply of tradable goods spill over to the rest of the world. National central banks may thus fall into a coordination trap, and implement an excessively tight monetary policy during tradable goods-driven recoveries. |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp16971 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545915 |
| 推荐引用方式 GB/T 7714 | Luca Fornero,Federica Romei. DP16971 Monetary Policy during Unbalanced Global Recoveries. 2022. |
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