{"title":"The Return of Inflation","authors":"Barry Eichengreen","doi":"10.1525/curh.2024.123.849.9","DOIUrl":null,"url":null,"abstract":"Inflation, after an extended absence, is back. Its resumption reflects a combination of supply and demand factors: supply-side disruptions to trade and production associated with COVID-19; and shifts in the composition of demand to goods from services, along with strong stimulus to spending owing to support payment provided by governments. There is disagreement about what to do in response: whether central banks should continue to respond with increases in interest rates, and whether there is a role for selective wage and price controls. Above all, there is disagreement about how long the inflation problem is likely to persist.","PeriodicalId":45614,"journal":{"name":"Current History","volume":null,"pages":null},"PeriodicalIF":2.4000,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Current History","FirstCategoryId":"98","ListUrlMain":"https://doi.org/10.1525/curh.2024.123.849.9","RegionNum":4,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"INTERNATIONAL RELATIONS","Score":null,"Total":0}
引用次数: 0
Abstract
Inflation, after an extended absence, is back. Its resumption reflects a combination of supply and demand factors: supply-side disruptions to trade and production associated with COVID-19; and shifts in the composition of demand to goods from services, along with strong stimulus to spending owing to support payment provided by governments. There is disagreement about what to do in response: whether central banks should continue to respond with increases in interest rates, and whether there is a role for selective wage and price controls. Above all, there is disagreement about how long the inflation problem is likely to persist.
期刊介绍：
Current History enjoys a unique place among America"s most distinguished periodicals.The oldest US publication devoted exclusively to world affairs, Current History was founded by The New York Times in 1914 to provide detailed coverage of what was then known as the Great War. As a privately owned publication, Current History has continued a long tradition of groundbreaking coverage, providing a forum for leading scholars and specialists to analyze events and trends in every region of a rapidly changing world.
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