Why monetary policy should crack down harder during high inflation

ECB Research Bulletin by Peter Karadi, Anton Nakov, Galo Nuño, Ernesto Pasten and Dominik Thaler.

Read more: https://www.ecb.europa.eu/press/research-publications/resbull/2025/html/ecb.rb250429~6f9636652d.en.html
The 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.