How Long to Read Unconventional Fiscal Policy in Times of High Inflation

How Long Does it Take to Read Unconventional Fiscal Policy in Times of High Inflation?

It takes the average reader 1 hour and 2 minutes to read Unconventional Fiscal Policy in Times of High Inflation by Mai Dao

Assuming a reading speed of 250 words per minute. Learn more

Description

The surge in energy prices in 2022 has been a defining factor behind the increase in euro area inflation. We assess the impact of “unconventional fiscal policy,” defined as the set of fiscal measures, possibly expansionary, motivated by a desire to mute the effects of the increase in energy prices and to lower inflation. Overall, we find that these unconventional measures reduced euro area inflation by 1 to 2 percentage points in 2022 and may avoid an undershoot later on. When nonlinearities in the Phillips curve are taken into account, the net effect is to reduce inflation by about 0.5 percentage points in 2021-24, and keep it nearer to its target. About one-third to one-half of the reduction in 2022 reflects the direct effects of the measures on headline inflation, with much of the remainder reflecting the lower pass-through to core inflation. The fiscal measures were deficit-financed but had limited effects on raising inflation by stimulating demand and instead modestly helped to stabilize longer-term inflation expectations. Looking ahead, the prospective decline in inflation in the euro area is partly due to fortunate circumstances, with energy prices falling from their 2022 peaks and their pass-through effects fading, and with less economic overheating than in economies such as the United States. Implementing similar measures in the face of a more persistent increase in energy prices, or in a more overheated economy, would have caused a more persistent rise in core inflation.

How long is Unconventional Fiscal Policy in Times of High Inflation?

Unconventional Fiscal Policy in Times of High Inflation by Mai Dao is 62 pages long, and a total of 15,624 words.

This makes it 21% the length of the average book. It also has 19% more words than the average book.

How Long Does it Take to Read Unconventional Fiscal Policy in Times of High Inflation Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 25 minutes to read Unconventional Fiscal Policy in Times of High Inflation aloud.

What Reading Level is Unconventional Fiscal Policy in Times of High Inflation?

Unconventional Fiscal Policy in Times of High Inflation is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Unconventional Fiscal Policy in Times of High Inflation?

Unconventional Fiscal Policy in Times of High Inflation by Mai Dao is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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