Event Summary

Due to the pandemic shock, inflation has "returned" in the eurozone. The energy crisis triggered by Russia's war in Ukraine has added further pressure, leading to a 10% headline inflation in September 2022. Supply-side developments related to energy markets and supply chains, or second rounds wage effects, are likely candidates for further inflationary pressure in the short term. The inflationary outlook is gloomy also in the medium-term, as most of the favorable supply-side developments during the Great Moderation are at risk of undoing due to de-globalization forces reducing international trade and technological, capital, and migratory flows.

Against these scenarios, the workshop assembles a group of policymakers and researchers to present and discuss recent scientific results and advance policy solutions.