(like professional forecasters) have responded to the COVID-19 pandemic by lowering their one-year-ahead inflation …) following the onset of the pandemic, while household measures of inflation expectations jumped markedly. Third, despite the … see the shock (thus far) largely as a demand rather than supply shock. A greater share of firms reports significant or …

the pandemic-era surge in consumer price inflation in the euro area. Initially, supply-chain pressures increased inflation …We document how supply-chain pressures, household inflation expectations, and firm pricing power interacted to induce … through a cost-push channel and raised inflation expectations. Subsequently, the cost-push channel intensified as firms with …

We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the … near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR …) model. We report three main results. First, the decline in global inflation during the 2020 global recession was the most …

shock come with news about its propagation, allowing us to disentangle the role of beliefs about the future of the pandemic … and apply it to study the macroeconomic effects of the Covid shock. The initial outbreak is represented as the onset of a … new shock process where the shock loads on wedges associated with the model's usual shocks. Realizations of the Covid …

since the start of the COVID-19 pandemic. We find that household inflation expectations responded slowly and mostly at the …This paper studies how inflation beliefs reported in the New York Fed’s Survey of Consumer Expectations have evolved … short-term horizon. In contrast, the data reveal immediate and unprecedented increases in individual inflation uncertainty …

product-market and labor-market shocks on prices and nominal wages and to quantify the sources of U.S. pandemic-era inflation … short-run and long-run inflation expectations. The estimated model allows us to analyze the direct and indirect effects of … and wage growth. We find that, contrary to early concerns that inflation would be spurred by overheated labor markets …

restriction measures and local unemployment rates on inflation expectations. We find that consumers who were locally more exposed … to COVID-19 cases report higher inflation expectations. e relationship between the virus spread and inflation … experience channel. Information about the pandemic and its effects played an important role during the rst wave of the pandemic …

(like professional forecasters) have responded to the COVID-19 pandemic by lowering their one-year-ahead inflation …) following the onset of the pandemic, while household measures of inflation expectations jumped markedly. Third, despite the … see the shock (thus far) largely as a demand rather than supply shock. A greater share of firms reports significant or …