Die Gefahr einer nachhaltigen Beschleunigung der Inflation durch die expansive Geld- und Fiskalpolitik im Zuge der weltweiten
Rezession erscheint gering, falls die Zentralbanken die Geldbestände mit dem Abklingen der Krise rasch genug verringern und
die Regierungen glaubwürdige Maßnahmen zur Konsolidierung der öffentlichen Finanzen vorlegen und damit die langfristigen Inflationserwartungen
auf niedrigem Niveau verankert bleiben.
Keywords:Finanzmarktkrise Inflation Deflation
Forschungsbereich:Makroökonomie und öffentliche Finanzen
Sprache:Deutsch
The Consequences of the Financial and Economic Crisis on Inflation
In view of substantial increases of national debts and the central bank money supply, it has been mooted that a high to very
high inflation rate must be expected in the medium to long run. Under the condition that central banks will be able to sufficiently
cut down their money stocks once the crisis abates, and provided that governments propose creditable measures to consolidate
their public finances so that inflation expectations will stay anchored, there is little danger of a long-term increase of
the inflation rate as consequence of the expansive monetary and fiscal policy. In the medium to long run, we are faced with
a greater risk of inflation driven by a new surge in global demand for agricultural and energy comodities while their supply
is growing at a more modest rate.
