explosion of inflation during his administration (above 1,500% on a six-month annualized measure) was predictable, and that the … that the combination of runaway inflation, shortages, and black markets generated major disaffection among the middle class …

We measure the heterogeneous welfare effects of the recent inflation surge across households in the Euro Area. A simple … framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our …; (ii) this inflation episode resembles an age-dependent tax, with the elderly losing up to 20%, and roughly half of the 25 …

We study the redistributive effects of inflation combining administrative bank data with an information provision … experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are … concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are …

investigate the role of individual firms and product categories in aggregate inflation. We decompose inflation into the component …, respectively. In advanced economies, the firm granular residual accounts for 41% of the variance of overall inflation, while the … residuals are less important in economies with less concentrated market shares and higher inflation, such as emerging markets …

policy will temporarily aid debt sustainability through a temporary burst in inflation. The anticipation of a possible reform … links debt levels with inflation expectations. As a result, interest rates have two effects: they influence demand and … affect expected inflation in opposite directions. The expectations effect is linked to the impact of interest rates on public …

study the consequences of unexpected inflation on the labor market. The slow and costly adjustment of real wages within a … match after a burst of inflation incentivizes workers to engage in job-to-job transitions. Such dynamics after a surge in … inflation lead to a rise in aggregate vacancies relative to unemployment, associating a seemingly tight labor market with lower …

economic growth. This paper examines the roles of three other factors: primary budget surpluses, surprise inflation, and pegged … inflation and the pre-Accord peg. In this counterfactual, debt/GDP declines only to 74% in 1974, not 23% as in actual history …

-structural model of output, inflation, and the nominal interest rate in the United States over the period 1900-2021. The model predicts …To what extent is the recent spike in inflation driven by a change in its permanent component? We estimate a semi … that between 2019 and 2021 the permanent component of inflation rose by 51 basis points. If instead we estimate the model …

the evidence in favour a nonlinear Phillips curve may is fact be driven by improperly controlling for inflation …

to the 2021-2023 inflation surge through the lens of several different empirical methodologies--event studies, vector … through a disinflationary channel in the Phillips curve while monetary and fiscal stimuli put positive pressure on inflation …