This paper documents the recent changes in the structure and estimation procedures of the SAMBA model, providing a complete description of the decision problems that each economic agent faces, the first order conditions that solve those problems, and the new techniques employed to estimate the...

Introduction -- Chapter 1: Back to the future – The return of inflation in the 2020s -- Chapter 2: Fundamentals – A primer on what drives inflation -- Chapter 3: The US – Pandemic recovery and fiscal bazooka -- Chapter 4: Europe – Same, same, but different -- Chapter 5: Asia – This...

This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a renegotiation option. In the model, creditors decide when to withdraw their funding and equityholders can renegotiate the contract terms of debt. We show that when equityholders...