DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS
: In the last decade the world has experienced a number of global crises which triggered economic downturns. Impacts from the global financial crisis, the global COVID pandemic, and Russia’s invasion of Ukraine trigger instability in financial markets. This paper explores similarities and difference...
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| Format: | Article |
| Language: | English |
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Academy of Economic Studies of Moldova (AESM), Center for Studies in European Integration
2023-12-01
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| Series: | Eastern European Journal of Regional Studies |
| Subjects: | |
| Online Access: | https://csei.ase.md/journal/files/issue_92/3_EEJRS_Issue92_41-52.pdf |
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| _version_ | 1849407528794849280 |
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| author | Alexandru VLADOI Lara-Greta MERLING Kevin CASHMAN |
| author_facet | Alexandru VLADOI Lara-Greta MERLING Kevin CASHMAN |
| author_sort | Alexandru VLADOI |
| collection | DOAJ |
| description | : In the last decade the world has experienced a number of global crises which triggered economic downturns. Impacts from the global financial crisis, the global COVID pandemic, and Russia’s invasion of Ukraine trigger instability in financial markets. This paper explores similarities and differences between these crises based on inflation and its energy-related components. A Vector Autoregressive (VAR) model is used to analyze both EU-level trends, as well as data for Romania. The findings indicate idiosyncratic shifts in the relationships between variables. The changes are often specific to individual shocks and the policy context. How policy makers respond to these shocks will also impact the fiscal space, the borrowing costs of countries, and the cost of servicing debt, which risks a return to the type of austerity policies that slowed down the post-financial crisis recovery. There is a need for more detailed research and investigations in policy responses designed to respond to ongoing events. |
| format | Article |
| id | doaj-art-b1cd48de71f5466a882b216bd937cd21 |
| institution | Kabale University |
| issn | 1857-436X 2537-6179 |
| language | English |
| publishDate | 2023-12-01 |
| publisher | Academy of Economic Studies of Moldova (AESM), Center for Studies in European Integration |
| record_format | Article |
| series | Eastern European Journal of Regional Studies |
| spelling | doaj-art-b1cd48de71f5466a882b216bd937cd212025-08-20T03:36:02ZengAcademy of Economic Studies of Moldova (AESM), Center for Studies in European IntegrationEastern European Journal of Regional Studies1857-436X2537-61792023-12-0192415210.53486/2537-6179.9-2.03DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETSAlexandru VLADOI0https://orcid.org/0009-0004-9917-4453Lara-Greta MERLING1https://orcid.org/0000-0001-6255-0823Kevin CASHMAN2ASE BucurestiASE BucurestiCenter for Economic and Policy Research: In the last decade the world has experienced a number of global crises which triggered economic downturns. Impacts from the global financial crisis, the global COVID pandemic, and Russia’s invasion of Ukraine trigger instability in financial markets. This paper explores similarities and differences between these crises based on inflation and its energy-related components. A Vector Autoregressive (VAR) model is used to analyze both EU-level trends, as well as data for Romania. The findings indicate idiosyncratic shifts in the relationships between variables. The changes are often specific to individual shocks and the policy context. How policy makers respond to these shocks will also impact the fiscal space, the borrowing costs of countries, and the cost of servicing debt, which risks a return to the type of austerity policies that slowed down the post-financial crisis recovery. There is a need for more detailed research and investigations in policy responses designed to respond to ongoing events.https://csei.ase.md/journal/files/issue_92/3_EEJRS_Issue92_41-52.pdfeconomic crisesenergy pricesexchange rate volatility and stock markets |
| spellingShingle | Alexandru VLADOI Lara-Greta MERLING Kevin CASHMAN DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS Eastern European Journal of Regional Studies economic crises energy prices exchange rate volatility and stock markets |
| title | DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS |
| title_full | DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS |
| title_fullStr | DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS |
| title_full_unstemmed | DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS |
| title_short | DRIVERS AND IMPACTS OF INFLATION: A LOOK AT ENERGY PRICES, EXCHANGE RATE VOLATILITY, AND STOCK MARKETS |
| title_sort | drivers and impacts of inflation a look at energy prices exchange rate volatility and stock markets |
| topic | economic crises energy prices exchange rate volatility and stock markets |
| url | https://csei.ase.md/journal/files/issue_92/3_EEJRS_Issue92_41-52.pdf |
| work_keys_str_mv | AT alexandruvladoi driversandimpactsofinflationalookatenergypricesexchangeratevolatilityandstockmarkets AT laragretamerling driversandimpactsofinflationalookatenergypricesexchangeratevolatilityandstockmarkets AT kevincashman driversandimpactsofinflationalookatenergypricesexchangeratevolatilityandstockmarkets |