1、ECONOMICS WORKING PAPERS 2024/03Investment decisions in a high-inflation environmentAugust 2024 Investment decisions in a high-inflation environmentAugust 2024 Investment decisions in a high-inflation environment European Investment Bank,2024.EIB Working Paper 2024/03August 2024All rights reserved.A

2、ll questions on rights and licensing should be addressed to publicationseib.org.European Investment Bank98-100,boulevard Konrad AdenauerL-2950 LuxembourgAuthorsMarco Schito(Public Policy and Management Institute)Luka Klimaviit(Public Policy and Management Institute)Rozlia Pl(EIB)This is a publicatio

3、n of the EIB Economics Department.economicseib.orgwww.eib.org/economicsAbout the Economics DepartmentThe mission of the EIB Economics Department is to provide economic analyses and studies to support the Bank in its operations and in the definition of its positioning,strategy and policy.The departme

4、nt and its team of economists is headed by Debora Revoltella,director of economics.DisclaimerThe views expressed in this publication are those of the authors and do not necessarily reflect the position of the European Investment Bank.EIB working papers are designed to facilitate the timely exchange

5、of research findings.They are not subject to standard EIB copyediting or proofreading.For further information on the EIBs activities,please consult our website,www.eib.org.You can also contact our Info Desk,infoeib.org.Published by the European Investment Bank.Printed on FSC Paper.pdf:QH-09-24-657-E

6、N-NISBN 978-92-861-5802-5ISSN:2599-736Xdoi:10.2867/788036 1.INTRODUCTION.1 2.LITERATURE REVIEW.3 3.DATA AND TRENDS.6 3.1.THE EIBIS DATASET.6 3.2.OPERATIONALISATION OF INFLATION.6 3.3.OPERATIONALISATION OF THE COST PASS-THROUGH RATE.8 4.METHODOLOGY AND RESULTS.12 3.4.ESTIMATION STRATEGY.12 3.5.RESULT