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| DOI | 10.1093/icc/dtad080 |
| Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective | |
| 发表日期 | 2024 |
| ISSN | 0960-6491 |
| EISSN | 1464-3650 |
| 起始页码 | 33 |
| 结束页码 | 2 |
| 卷号 | 33期号:2 |
| 英文摘要 | In the overlapping global emergencies of the pandemic, climate change and geopolitical confrontations, supply shocks have become frequent and inflation has returned. This raises the question of how sector-specific shocks are related to overall price stability. This paper simulates price shocks in an input-output model to identify sectors which present systemic vulnerabilities for monetary stability in the United States. We call these prices systemically significant. We find that in our simulations the pre-pandemic average price volatilities and the price shocks in the COVID-19 and Ukraine war inflation yield an almost identical set of systemically significant prices. The sectors with systemically significant prices fall into four groups: energy, basic production inputs other than energy, basic necessities, and commercial infrastructure. Specifically, they are Petroleum and coal products, Oil and gas extraction, Utilities, Chemical products, Farms, Food and beverage and tobacco products, Housing, and Wholesale trade. We argue that in times of overlapping emergencies, economic stabilization needs to go beyond monetary policy and requires institutions and policies that can target these systemically significant sectors. |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Business ; Economics ; Management |
| WOS记录号 | WOS:001157617100001 |
| 来源期刊 | INDUSTRIAL AND CORPORATE CHANGE
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/292632 |
| 作者单位 | University of Massachusetts System; University of Massachusetts Amherst; Universidade Estadual de Campinas |
| 推荐引用方式 GB/T 7714 | . Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective[J],2024,33(2). |
| APA | (2024).Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective.INDUSTRIAL AND CORPORATE CHANGE,33(2). |
| MLA | "Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective".INDUSTRIAL AND CORPORATE CHANGE 33.2(2024). |
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