climate damage asymmetry tends to discourage cooperation in the grand coalition. The effects of fuel-demand asymmetry depend … fuel demand asymmetry. If fuel is sufficiently scarce, low degrees of fuel demand asymmetry discourage cooperation whereas … higher degrees of asymmetry stabilize the grand coalition. …

on the degree of asymmetry and other parameters. On some subset of parameters, the embargo stabilizes the otherwise …

measures for this risk premium, we document that it also exhibits growth asymmetry, i.e. the risk premium rises sharply in … which agents cannot perfectly observe the state of current productivity, can generate the observed asymmetry in the risk … accuracy. In addition to matching moments of the risk premium, the model is also successful in generating the growth asymmetry …

aggregate demand gains momentum. If inflation also has inertia, the central bank still overheats the economy during the low …

We estimate a multi-country multi-sector New Keynesian model to quantify the drivers of domestic inflation during 2020 …–2023 in several countries, including the United States. The model matches observed inflation together with sector-level prices … and wages. We further measure the relative importance of different types of shocks on inflation across countries over time …

We study how investors respond to inflation combining a customized survey experiment with trading data at a time of … historically high inflation. Investors’ beliefs about the stock return-inflation relation are very heterogeneous in the cross … section and on average too optimistic. Moreover, many investors appear unaware of inflation-hedging strategies despite being …

on regional and country-level inflation and real activity. For this purpose a Global VAR (GVAR) model is estimated …