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DOI	10.1093/icc/dtad080
	Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective
	Weber, Isabella M.; Jauregui, Jesus Lara; Teixeira, Lucas; Pires, Luiza Nassif
发表日期	2024
ISSN	0960-6491
EISSN	1464-3650
起始页码	33
结束页码	2
卷号	33 期号:2
英文摘要	In the overlapping global emergencies of the pandemic, climate change and geopolitical confrontations, supply shocks have become frequent and inflation has returned. This raises the question of how sector-specific shocks are related to overall price stability. This paper simulates price shocks in an input-output model to identify sectors which present systemic vulnerabilities for monetary stability in the United States. We call these prices systemically significant. We find that in our simulations the pre-pandemic average price volatilities and the price shocks in the COVID-19 and Ukraine war inflation yield an almost identical set of systemically significant prices. The sectors with systemically significant prices fall into four groups: energy, basic production inputs other than energy, basic necessities, and commercial infrastructure. Specifically, they are Petroleum and coal products, Oil and gas extraction, Utilities, Chemical products, Farms, Food and beverage and tobacco products, Housing, and Wholesale trade. We argue that in times of overlapping emergencies, economic stabilization needs to go beyond monetary policy and requires institutions and policies that can target these systemically significant sectors.
语种	英语
WOS研究方向	Business & Economics
WOS类目	Business ; Economics ; Management
WOS记录号	WOS:001157617100001
来源期刊	INDUSTRIAL AND CORPORATE CHANGE
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/292633
作者单位	University of Massachusetts System; University of Massachusetts Amherst; Universidade Estadual de Campinas
推荐引用方式 GB/T 7714	Weber, Isabella M.,Jauregui, Jesus Lara,Teixeira, Lucas,et al. Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective[J],2024,33(2).
APA	Weber, Isabella M.,Jauregui, Jesus Lara,Teixeira, Lucas,&Pires, Luiza Nassif.(2024).Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective.INDUSTRIAL AND CORPORATE CHANGE,33(2).
MLA	Weber, Isabella M.,et al."Inflation in times of overlapping emergencies: Systemically significant prices from an input-output perspective".INDUSTRIAL AND CORPORATE CHANGE 33.2(2024).