POLICY COMPASS
Negative Supply Shocks and Optimal Monetary Policy Response
How Central Banks Should Respond To The Ongoing US-China Trade and Tech War and Potential US-Iran Oil War
by Nouriel Roubini
20 August 2019
In this paper we discuss:
- The three supply shocks that are affecting the global economy;
- The latest developments on the US/China tech and trade war, on the US/China Cold War, on the US/Iran geopolitical tension;
- The impact these negative supply shocks are having on growth potential;
- The policy respone adopted so far: monetary and fiscal easing; and
- How the policy response might change in the medium term.
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