Energy shock and inflation: Re-examining the relevance of the Russian-Ukrainian conflict

Abstract

This special issue of PSL Quarterly Review discusses the economic consequences of the Russian-Ukranian one year and a half after its outbreak. Firstly, Joseph Halevi re-assesses the conclusions drawn in the special issue published by Moneta e Credito in June 2022. Secondly, Araujo et al. point out that the EU is particularly vulnerable to external shocks since it adopts an Inflation Targeting Regime (ITR). Both Storm and Cucignatto, Fora-Alcalde and Garbellini deal with the distributive conflict triggered by inflation, while Lampa and Oro focus on the worsening of Eurozone’s external position and internal imbalances in distribution and finance. Finally, Giangrande explores the evolution of the material conditions of the working class.

Keywords

• Russia
• economic crisis
• international monetary system
• international trade