Prospect of Rising Inflation

Unlike the Global Financial Crisis in 2008, the Covid-19 pandemic has represented a supply shock as well as a demand shock. The authorities have reacted to the demand shock component of the crisis via a massive monetary stimulus, but have…

Prospect of Rising Inflation

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Unlike the Global Financial Crisis in 2008, the Covid-19 pandemic has represented a supply shock as well as a demand shock. The authorities have reacted to the demand shock component of the crisis via a massive monetary stimulus, but have clearly been less successful in insulating the supply side of their economies.

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