Meyer, Brent H.; Prescott, Brian C.; Sheng, Xuguang - 2023
Using the Federal Reserve Bank of Atlanta's Business Inflation Expectations (BIE) survey, which has been continuously … firms' marginal cost expectations and risk during the COVID-19 pandemic. First, in the early months of the pandemic, firms … shortages) have contributed to elevated short-term unit cost expectations and risk. Specifically, supply shocks accounted for …