We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …

Inflation in 2021 and 2022 grew much faster than the Federal Reserve expected. The Fed downplayed inflation in 2021 and …

policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks … explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total …