The macroeconomic effects, transmission channels and amplifiers of supply shocks, and their implications for monetary or fiscal policy

The global economic landscape has become more volatile over the past decade as supply-side disruptions from acute shocks such as the COVID-19 pandemic and recent geopolitical conflicts to pronounced long-term structural shifts such as geopolitical fragmentation or the green or digital transition have become important drivers of the business cycle. Unlike demand shocks, such supply-side disruptions can force a stark policy trade-off between stabilizing inflation and economic activity, challenging the prevailing monetary and fiscal frameworks.

This PhD project offers a comprehensive opportunity to investigate the role of supply-side disruptions on the macroeconomy and their implications for monetary or fiscal policy. Within this project, the student can flexibly explore issues such as the propagation of such shocks within or a...