What are the key lessons that have been learned from past episodes of global inflation and the policy responses to them?

Following an unexpected contractionary monetary policy shock, (constrained) expanding sectors respond primarily by lowering prices, while (unconstrained) ... Nov 27, 2023 ... this year at 2.7% of GDP, so European fiscal policy is not offsetting the contractionary impacts of fiscal policy. Second, the euro area is ... ... policy caused high capital banks to take more risk. Capital constrained banks were not significantly affected by expansionary monetary policy. Contractionary ... Nov 26, 2013 ... A higher world interest rate stemming from the contractionary U.S. monetary policy shock therefore may dampen the domestic expenditure in the ... Jun 17, 2020 ... If the BSP perceives the inflation forecast to exceed the target, then it implements contractionary monetary policy to bring down inflation to ... Feb 22, 2019 ... ... contractionary. Developments at the time of the December FOMC meeting, including volatility in financial markets and increased concerns ... The goal of contractionary monetary policy is to decrease the rate of demand for goods and services, not to stop it. ... monetary policy. According to our results, a contractionary monetary policy shock generates long-run adverse effects on the level of real wages. While the ... Jan 16, 2015 ... Working Paper No. 521. By Benjamin Nelson, Gabor Pinter and Konstantinos Theodoridis ... To explain this 'waterbed' effect, we propose a standard ... The Board is committed to do what is necessary to ensure that inflation in Australia returns to the 2 to 3 per cent target range over time. It is seeking to do ...