Illing, Gerhard - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 102 (2022) 6, pp. 430-433
Whereas strong demand is a key factor driving high inflation in the US, inflation in the Euro Area is mainly due to adverse external supply shocks (in Europe, energy prices are much higher due to the war in Ukraine). Standard monetary policy response to such shocks is to accommodate first-round...