Developed world needs fiscal boost – Romanian deputy governor

Once wages recover pre-crisis level, inflation will rise fast, research finds

Liviu Voinea, NALM Europe 2019

When real wages catch up to the levels they were at before the financial crisis, inflation will start rising “fast”, the deputy governor of Romania’s central bank said today (March 14).

But achieving that result will mean more use of fiscal policy rather than continuing to rely on monetary measures, Liviu Voinea said. Voinea said the main reason rising employment has failed to shift inflation is what he calls the “cumulated wage gap”. He defined this in a June 2018 paper as “the cumulated gap

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.