per capita consumption growth rates to calculate consumption discount rates. For many applications, per capita consumption … growth rates can be approximated with per capita output growth rates. That approximation does not work for climate change …, which drives an ever-increasing and increasingly uncertain wedge between output and consumption growth. NAS (2017) in a …

real-world behavior, at times lowering effective, ‘descriptivist’ rates close to prescriptivist ones. We attempt to …

Our paper analyzes the effects of restrictions on capital mobility on the output-inflation trade-off. Using a … capital mobility should make the trade-off parameter smaller; that is, a given change in the inflation rate should be … output-inflation trade-off parameter are obtained from studies by Lucas (1973), Ball, Mankiw and Romer (1988) and others …

affect medium-term inflation, the primary objective of monetary policy. Using panel local projections for 48 advanced and … inflation in the near term, especially in EMEs. But over the medium term, the impact across the various price indices tends to …

We study how carbon pricing has affected inflation ex-post, using dynamic panel estimation of New-Keynesian Phillips … carbon taxes. We find that an increase in prices of ETS by $10 per ton of CO2 equivalents increases energy CPI inflation by 0 ….8 percentage points (pp), and headline inflation by 0.08pp, but has no significant effects on food and core CPI inflation. We also …

We study how precipitation has affected food consumer price inflation (CPI), using dynamic panel estimation of food CPI …. We allow for nonlinear effects of precipitation on food CPI inflation, and also control for possible nonlinear effects of … temperature. We find that precipitation has significant nonlinear effects on food CPI inflation. The coefficient of food CPI …

We estimate a multi-country, multi-sector New Keynesian model to quantify the drivers of domestic inflation during 2020 …-23 in several countries, including the United States. The model matches observed inflation together with sector-level prices … and wages. We further measure the relative importance of different types of shocks on inflation across countries over time …

We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation; (2) inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining euro area inflation over 2020-21; and (4) international trade did not respond to …