چکیده مقاله
Energy constitutes an essential share of costs across any economy The percentage of electricity in the overall energy consumption is steadily increasing This increase, however, is not reflected correctly in the consumption basket relevant for measuring inflation and, therefore, for monetary policy formulation We argue that the energy mix reflected in inflation should be revised in favour of electricity Also, the energy price shock cannot be viewed as a one shot event as in the case of oil price shocks in The implication of renewable sources on inflation should be of interest to policymakers, especially in times of high, almost galloping inflation rates in some European countries, unstable fossil energy sources supply due to geopolitical instability, and climate crisis In recent years, the traditional energy paradigm has started to shift towards climate change and security of supply So far, energy has mainly come from conventional sources Uncertainties due to global warming, the spread of COVID 19 and the Russian Ukrainian war show the more important role of renewable energy sources RES ; for example, electricity, compared to other traditional sources such as coal, natural gas and oil With rising energy prices and the energy transition to RES, there is increasing pressure on the current behaviour of central banks and maintaining inflation expectations The percentage of electricity in overall energy consumption is steadily increasing However, this increase is not reflected in the consumption basket relevant for measuring inflation and, therefore, for monetary policy formulation Electricity is currently deviating from the monetary policy paradigm and may lead to a change in inflation expectations In this study, the impact of rising energy prices on stagflation in the world economy is examined
کلیدواژهها
نویسندگان
Sepideh Kamrani Sharif
student in Monetary Economics, Kish International Campus, University of Tehran
شیوه ارجاع
Kamrani Sharif, Sepideh,1404,Investigating the effect of energy price increase on the inflationary recession of the world economy,1St International conference on new horizons in management,business, economics and humanities
ارائهشده در
مجموعه مقالات اولین کنفرانس بین المللی افق های نوین در مدیریت، تجارت، اقتصاد و علوم انسانی10 آذر 1404