Andre, Peter; Pizzinelli, Carlo; Roth, Christopher; … - 2019
the inflation rate respond to four different hypothetical exogenous shocks: a monetary policy shock, a government spending … predictions of changes in inflation are at odds with those of experts both for the tax shock and the interest rate shock. We show … shock, an income tax shock, and an oil price shock. While expert predictions are quantitatively close to benchmarks from …