{"id":70245,"date":"2023-12-02T07:37:05","date_gmt":"2023-12-02T06:37:05","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/the-aggravated-monetary-policy-dilemma\/"},"modified":"2024-04-20T14:12:26","modified_gmt":"2024-04-20T12:12:26","slug":"the-aggravated-monetary-policy-dilemma","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/70245\/","title":{"rendered":"The Aggravated Monetary Policy Dilemma"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-70245","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Amidst an already heightened inflation environment, the repercussions of the war in Ukraine resemble a macroeconomic supply-side shock which puts monetary policy in a challenging situation. The ECB faces a difficult trade-off and needs to find the right balance between dampening inflation and sustaining economic growth. Our empirical estimates suggest that the ECB is presently not overly loose relative to its historical monetary policy record and that current inflation cannot be easily tamed by monetary policy alone.","onlinedate":"2022-07-14 12:00:00","lang":"English","publication_series":"","publication_date":"20220601","publication_date_year":"","publication_date_full":false,"publication_num_pages":"31","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"https:\/\/www.europarl.europa.eu\/cmsdata\/249582\/WIFO_DEF.pdf","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"","publisher":"European Parliament","invisible":false,"external":false,"embargo_date":"2022-07-14 00:00:00","types":[81966],"research_groups":[3500],"collaboration":"","persons":[3497,3865],"persons_data":"[{\"personId\":3497,\"personName\":\"Atanas Pekanov\",\"organisationNames\":[]},{\"personId\":3865,\"personName\":\"Stefan Schiman\",\"organisationNames\":[]}]","clients":[10718],"subclients":[],"partners":[8870,29305,29306,9526],"topics":[40979],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"Luxembourg","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_bookanthology rendering_apa rendering_bookanthology_apa\\\"><span>Pekanov, A.<\\\/span><span>, &amp; Schiman, S.<\\\/span> (2022). <span><em>The Aggravated Monetary Policy Dilemma<\\\/em><\\\/span>. European Parliament. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.europarl.europa.eu\\\/cmsdata\\\/249582\\\/WIFO_DEF.pdf\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.europarl.europa.eu\\\/cmsdata\\\/249582\\\/WIFO_DEF.pdf<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_bookanthology rendering_vancouver rendering_bookanthology_vancouver\\\"><span>Pekanov A<\\\/span><span>, Schiman S<\\\/span>. <span class=\\\"title\\\"><span>The Aggravated Monetary Policy Dilemma<\\\/span><\\\/span>. Luxembourg: European Parliament, 2022. 31 p.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_bookanthology rendering_bibtex rendering_bookanthology_bibtex\\\"><div>@book{5b187e3c5b9242a49adeca24bbf736e6,<\\\/div><div>  title     = \\\"The Aggravated Monetary Policy Dilemma\\\",<\\\/div><div>  abstract  = \\\"Amidst an already heightened inflation environment, the repercussions of the war in Ukraine resemble a macroeconomic supply-side shock which puts monetary policy in a challenging situation. The ECB faces a difficult trade-off and needs to find the right balance between dampening inflation and sustaining economic growth. Our empirical estimates suggest that the ECB is presently not overly loose relative to its historical monetary policy record and that current inflation cannot be easily tamed by monetary policy alone.\\\",<\\\/div><div>  keywords  = \\\"Monetary Policy, NIRP, Monetary Policy, NIRP\\\",<\\\/div><div>  author    = \\\"Atanas Pekanov and Stefan Schiman\\\",<\\\/div><div>  note      = \\\"The Aggravated Monetary Policy Dilemma\\\",<\\\/div><div>  year      = \\\"2022\\\",<\\\/div><div>  month     = jun,<\\\/div><div>  language  = \\\"English\\\",<\\\/div><div>  publisher = \\\"European Parliament\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_bookanthology rendering_ris rendering_bookanthology_ris\\\"><p>TY  - BOOK<\\\/p><p>T1  - The Aggravated Monetary Policy Dilemma<\\\/p><p>AU  - Pekanov, Atanas<\\\/p><p>AU  - Schiman, Stefan<\\\/p><p>N1  - The Aggravated Monetary Policy Dilemma<\\\/p><p>PY  - 2022\\\/6<\\\/p><p>Y1  - 2022\\\/6<\\\/p><p>N2  - Amidst an already heightened inflation environment, the repercussions of the war in Ukraine resemble a macroeconomic supply-side shock which puts monetary policy in a challenging situation. The ECB faces a difficult trade-off and needs to find the right balance between dampening inflation and sustaining economic growth. Our empirical estimates suggest that the ECB is presently not overly loose relative to its historical monetary policy record and that current inflation cannot be easily tamed by monetary policy alone.<\\\/p><p>AB  - Amidst an already heightened inflation environment, the repercussions of the war in Ukraine resemble a macroeconomic supply-side shock which puts monetary policy in a challenging situation. The ECB faces a difficult trade-off and needs to find the right balance between dampening inflation and sustaining economic growth. Our empirical estimates suggest that the ECB is presently not overly loose relative to its historical monetary policy record and that current inflation cannot be easily tamed by monetary policy alone.<\\\/p><p>KW  - Monetary Policy, NIRP<\\\/p><p>KW  - Monetary Policy<\\\/p><p>KW  -  NIRP<\\\/p><p>UR  - https:\\\/\\\/www.europarl.europa.eu\\\/committees\\\/en\\\/econ\\\/econ-policies\\\/monetary-dialogue<\\\/p><p>M3  - Study<\\\/p><p>BT  - The Aggravated Monetary Policy Dilemma<\\\/p><p>PB  - European Parliament<\\\/p><p>CY  - Luxembourg<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[\"Steiner Martha\"]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Aggravated Monetary Policy Dilemma - 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