Review of the Jackson Hole Economic Policy Symposium ‘Reassessing Constraints on the Economy and Policy’


The annual economic symposium in Jackson Hole (US) was held in late August 2022. This year, the participants in the symposium discussed constraints on economic policy, which were caused mostly by the COVID-19 pandemic, and to some extent, by geopolitical factors. The serious exogenous shocks are unlikely to have led to structural shifts in real variables, although they have driven up inflation rates. Monetary authorities are demonstrating that they are resolved to fight inflation, however research data suggest that monetary instruments alone cannot help if they are not coordinated with fiscal policy measures.