The SAFE Policy Center at the Leibniz Institute for Financial Research SAFE and the Centre for Economic and Policy Research (CEPR) cordially invite you to a presentation from the latest research published in the
IMF’s World Economic Outlook “Policy Pivot, Rising Threats”
Thomas Kroen (Economist of the Research Department at the International Monetary Fund)
Moderation: Florian Heider (Leibniz Institute SAFE, CEPR and Goethe University)
held on 7 November from 9:00 a.m. to 10:00 a.m., via Zoom
The speaker will delve on Chapter 2, zooming on the recent global inflationary experience, the monetary policy response and its transmission, and lessons for future monetary policy. The recent global inflationary experience was characterized by large sectoral demand shifts amid supply disruptions and unprecedented fiscal and monetary stimulus. Thomas will discuss the pass-through of sectoral price pressures to core inflation and why the steepening of the Phillips curve is essential to understanding the global inflation surge. The presentation will highlight two essential lessons for policy makers: how key sectors hitting supply bottlenecks amid shifting demand patterns played a pivotal role in the inflation surge. While broad-based sectoral bottlenecks paired with strong demand may lead to inflation surges, appropriately tightened monetary policy can still curb inflation with minimal impact on output.
Thomas Kroen is an economist in the World Economic Studies Division of the Research Department at the IMF where he works on the World Economic Outlook. He brings a wealth of experience in international economics, having worked in the IMF’s Middle East and Central Asia Department. He holds a PhD in Economics from Princeton University, an MSc from the London School of Economics, and a BSc from the University of Mannheim.
We look forward to an engaging session and hope you can join us for this deep dive into the nuances of global inflation and monetary policy at SAFE.
