This European survey examines (a) A significant factor behind today’s inflation in Europe is dominant corporations in uncompetitive markets taking advantage of their market power to raise prices in order to increase their profit margins; (b) A significant factor behind today’s inflation in some sectors of the European economy is dominant corporations in uncompetitive markets taking advantage of their market power to raise prices in order to increase their profit margins; (c) A significant factor behind today’s inflation in some sectors of the European economy (both competitive and concentrated) is distortions in the aggregate economy where supply does not meet demand.
Keyword: supply chains
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This US survey examines (a) Given the centrality of semiconductors to the manufacturing of many products, securing reliable supplies should be a key strategic objective of national policy; (b) Restrictions on exports of semiconductors and related high-tech equipment to China will substantially improve US technological leadership
This week’s IGM Economic Experts Panel statements:
A) Even if the mortality of COVID-19 proves to be limited (similar to the number of flu deaths in a regular season), it is likely to cause a major recession.
B) The economic effects of COVID-19 coming from reduced spending will be larger than those coming from disruptions to supply chains and illness-related workforce reductions.
This week’s IGM European Economic Experts Panel statements:
A) Even if the mortality of COVID-19 proves to be limited (similar to the number of flu deaths in a regular season), it is likely to cause a major recession.
B) The economic effects of COVID-19 coming from reduced spending will be larger than those coming from disruptions to supply chains and illness-related workforce reductions.
C) The economic policy institutions of the Eurozone are well equipped to ameliorate the potential economic damage from COVID-19.
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