The conventional wisdom that inflation expectations respond to the level of the price of oil (or the price of gasoline … explained by a large increase in gasoline prices. However, on average, gasoline price shocks account for only 39% of the … support for the conventional wisdom. Using a new structural vector regression model, however, we demonstrate that gasoline …

An individual’s initial experiences with a common good, such as gasoline, can shape their behavior for decades. We … incomes and those in cities. Combining data on many cohorts, we then show that large increases in gasoline prices between the …

An individual's initial experiences with a common good, such as gasoline, can shape their behavior for decades. We … incomes and those in cities. Combining data on many cohorts, we then show that large increases in gasoline prices between the …