This Time is Different: The PEPP Might Not Work in a Sectoral Recession
Poglobljena analiza
30-09-2020
The COVID-19 recession is different from previous downturns because it originates in demand and supply disturbances which are highly specific to certain sectors (contact-intensive services). This sectoral nature renders aggregate demand policies, including monetary policy, much less effective. The PEPP was essential to prevent a financial crisis in the Spring of 2020; but there is no need to increase its size. In a sectoral recession, one should not expect much impact from central bank bond buying on inflation. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs (ECON).
Poglobljena analiza
Zunanji avtor
Angela CAPOLONGO, Daniel GROS
O dokumentu
Vrsta publikacije
Ključna beseda
- denarni odnosi
- denarno poslovanje
- dokumentacija
- DRUŽBENA IN SOCIALNA VPRAŠANJA
- ekonomske analize
- enotna monetarna politika
- epidemija
- Evropska centralna banka
- EVROPSKA UNIJA
- Evroskupina (euroobmočje)
- FINANCE
- gospodarska recesija
- gospodarske posledice
- gospodarske razmere
- GOSPODARSTVO
- INDUSTRIJA
- industrijska politika EU
- institucije EU in evropska javna uprava
- IZOBRAŽEVANJE IN KOMUNIKACIJE
- koronavirusna bolezen
- odbor EP
- okrevanje gospodarstva
- organiziranost industrije in industrijska politika
- raziskovalno poročilo
- zdravstvo