Crump, Richard K.; Eusepi, Stefano; Giannoni, Marc Paolo; … - National Bureau of Economic Research - 2022
flows, short-term and long-term inflation expectations and a forward-looking New-Keynesian Phillips curve for the 1960 … of 2021. This pronounced rise was primarily informed by strong wage growth rather than changes in inflation expectations …. Our model forecasts strong wage growth to moderate only sluggishly continuing to put upward pressure on inflation in the …