inflation strongly and persistently, (ii) lead to statistically weak negative effects on activity, (iii) contributed to … having a stronger effect on inflation expectations. Quantitatively, increasing political pressure by half as much as Nixon …

fluctuations associated with these events are also discussed, as is their role in the recent surge of inflation, with a particular …

inflation, building on our earlier work for the United States. Globally, as in the United States, pandemic-era inflation was due … bank inflation targets. As the effects of supply shocks have subsided, tight labor markets, and the rises in nominal wages …, have become relatively more important sources of inflation in many countries. In several countries, including the United …

short-run and long-run inflation expectations. The estimated model allows us to analyze the direct and indirect effects of … product-market and labor-market shocks on prices and nominal wages and to quantify the sources of U.S. pandemic-era inflation … and wage growth. We find that, contrary to early concerns that inflation would be spurred by overheated labor markets …

public finances. We show that when the ECB misses its inflation target this has large heterogeneous fiscal consequences for … missing their inflation targets. They are also sizeable …

the quantity of imports. We investigate the impact of an import constraint on inflation, following an increase in domestic … demand. Whether the binding import constraint raises inflation depends on how it affects trade intermediation costs. If the … binding constraint raises trade costs, then import price inflation also increases. In this case, however, foreign producer …

industries. Meanwhile governments responded with unprecedented stimulus packages, and inflation increased to its highest values … in 40 years. In this paper I investigate the contribution of aggregate monetary and fiscal policies to inflation … heterogeneous supply curves, industry-specific shocks to inelastically supplied goods increase aggregate inflation through a cost …