ecb -为何重大冲击后货币政策的影响会更为显著 Why monetary policy hits harder after big shocks.pdfVIP

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ecb -为何重大冲击后货币政策的影响会更为显著 Why monetary policy hits harder after big shocks.pdf

THEECBBLOG

Whymonetarypolicyhitsharderafterbig

shocks

13April2026

ByAlinaBobasu,MatteoCiccarelli,AlexGrimaud,MartinMandlerandAndrejsZlobins

Duringthelatesttighteningepisode,interest

ratehikeswereespeciallyeffective.This

ECBBlogfindsastrongpolicytransmission

toinflationduring2022and2023,aforceful

responsetosupply-drivenshocksandalow

“sacrificeratio”.

Theeffectsofmonetarypolicyintheeuroareadifferacrosscountries,sectorsand

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