This paper reports the estimation and simulation of the Bernanke and Blanchard (2023) model on Belgian data. The model offers a consistent framework that ties together wage growth, inflation expectations and price inflation. It is used to study the surge and persistence of inflation in the post-pandemic period in Belgium. According to the model, a sequence of shocks to product shortage, energy and food components is found to be the main reason behind …
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NBB Working Paper, 2024, 447: What caused the post-pandemic era inflation in Belgium? Replication of the Bernanke-Blanchard model for Belgium
Oorspronkelijke titel: What caused the post-pandemic era inflation in Belgium? Replication of the Bernanke-Blanchard model for Belgium
Bron: nbb.be
28-03-2024
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