We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation; (2) inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining euro area inflation over 2020-21; and (4) international trade did not respond to …

We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation. 2) Inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining Euro Area inflation over 2020-21. 4) International trade did not respond to …

We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation; (2) inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining euro area inflation over 2020-21; and (4) international trade did not respond to …

-response policies have international spillovers. Bilateral product-level data covering about 95 percent of global goods trade reveals … sizable negative international spillovers to trade from supply disruptions due to domestic lockdowns. These international … spillovers accounted for up to 60 percent of the observed decline in trade in the early phase of the pandemic, but their effect …