Arbeitspapier
From low to high inflation: Implications for emerging market and developing economies
Recent energy and food price surges, in the wake of Russia's invasion of Ukraine, have exacerbated inflation pressuresthat are unusually high by the standards of the past two decades. High and rising inflation has prompted many emerging market and developing economy (EMDE) central banks and some advanced-economy central banks to increase interest rates. Inflation is expected to ease back towards targets over the medium-term as recent shocks unwind, but the 1970s experience is a reminder of the material risks to this outlook. As inflation remains elevated, the risk is growing that, to bring inflation back to target, advanced economies need to undertake a much more forceful monetary policy response than currently anticipated. If this risk materializes, it would imply additional increases in borrowing costs for EMDEs, which are already struggling to cope with elevated inflation at home before the recovery from the pandemic is complete. EMDEs need to focus on calibrating their policies with macroeconomic stability in mind, communicating their plans clearly, and preserving and building their credibility.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2202
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Energy and the Macroeconomy
- Thema
-
Global Inflation
Commodity Price
War in Ukraine
Global Recession
Great Inflation
Monetary Policy Tightening
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ha, Jongrim
Kose, M. Ayhan
Ohnsorge, Franziska
- Ereignis
-
Veröffentlichung
- (wer)
-
Koç University-TÜSIAD Economic Research Forum (ERF)
- (wo)
-
Istanbul
- (wann)
-
2022
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ha, Jongrim
- Kose, M. Ayhan
- Ohnsorge, Franziska
- Koç University-TÜSIAD Economic Research Forum (ERF)
Entstanden
- 2022
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