Supply Aug 19

POLICY COMPASS

Negative Supply Shocks and Optimal Monetary Policy Response

How Central Banks Should Respond To The Ongoing US-China Trade and Tech War and Potential US-Iran Oil War

by Nouriel Roubini

20 August 2019

In this paper we discuss:

• The three supply shocks that are affecting the global economy;
• The latest developments on the US/China tech and trade war, on the US/China Cold War, on the US/Iran geopolitical tension;
• The impact these negative supply shocks are having on growth potential;
• The policy respone adopted so far: monetary and fiscal easing; and
• How the policy response might change in the medium term.

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Download PDF: Supply Shocks – August 2019

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