Inflation rates are coming back from an extremely high level. However, they are still far too high. The core rates of inflation (excluding energy and food prices) are also signaling that the danger has not yet been averted. Monetary policy is therefore still required. Due to the unrest in the banking sector (eg Silicon Valley Bank, Credit Suisse), the central banks now have to keep an eye on financial stability in addition to price stability. What is the correct course of action? How does the inflation genie get back in the bottle?
A conversation between Prof. Dr. Aymo Brunetti (University of Bern), Prof. Dr. Norbert Berthold (JMU) and Dr. Jörn Quitzau (Berenberg).
From the content:
Introduction (01:35) +++
Price stability vs. financial stability: What are the effects of the problems in the banking sector (00:19) +++
What are the current causes of inflation? (07:32) +++
Inflation the result of “living beyond your means”? (11:30 p.m.) +++
What about price brakes? (26:30)
Wage-price spiral as a problem (32:30)
How do you get the inflation problem under control? (40:10)
The participants:
Prof. Aymo Brunetti is Professor of Economic Policy at the University of Bern. Aymo Brunetti has had advisory mandates at the OECD, the World Bank and UBS, among others. He is an outstanding expert on Swiss economic policy: he was a member of the executive board of the State Secretariat for Economic Affairs, where he headed the Directorate for Economic Policy, among other things. Following the global financial crisis, Aymo Brunetti was a member of the expert commission that worked out solutions to mitigate the “too big to fail” problem. He was head of a group of experts set up by the Federal Department of Finance for the further development of the financial market strategy and he then headed the “Advisory Board for the Future of the Financial Center”, which was set up by the Federal Department of Finance.
Prof. Dr. Norbert Berthold is professor (em.) for economics, in particular economic order and social policy at the Julius-Maximilians-University of Würzburg. He worked at the Universities of Freiburg, Münster, Basel, Hamburg, Düsseldorf and Würzburg. Norbert Berthold is the initiator and operator of the economist blog “Wirtschaftsfreiheit” and thus also the namesake and initiator of this podcast.
Dr. Jörn Quitzau is Head of Economic Trends at Bankhaus Berenberg. Previously, he was Senior Economist at Deutsche Bank Research. Together with Prof. Dr. Norbert Berthold is the initiator of this podcast.
