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

circumstances experienced during the pandemic. Many of these programs were announced as open-ended to shock-and-awe market …

negative shock. We use several new datasets to track the use of a large variety of policy tools: announced fiscal stimulus …

What accounts for inflation after 2008? We use the prominent pre-crisis Smets-Wouters (2007) model to address this … question. We find that due to price markup shocks alone inflation would have been 1% higher than observed and 0.5% higher that … responsible for the slow recovery of employment, though not for the initial drop. Monetary policy shocks predict an inflation rate …

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 …