Segnalazione dalla BCE-ECB

(This is) the latest issue (No. 111) of the ECB Research Bulletin, entitled “The outlook is mixed: the asymmetric effects of weather shocks on inflation”.

Matteo Ciccarelli (Forecasting and Policy Modelling Division, European Central Bank), Friderike Kuik and Catalina Martínez Hernández (both Prices and Costs Division, European Central Bank) review climate change implications for price stability and the work of central banks. The authors provide evidence from the four largest euro area economies and outline the relationship between temperature and inflation. As climate change brings more frequent and more severe weather shocks, the volatility and heterogeneity of inflation may increase and hotter summers may result in more frequent and persistent upward pressures on inflation.

The ECB Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience. The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem. (...)