최신자료
Does Unconventional Monetary and Fiscal Policy Contribute to the COVID Inflation Surge in the US?
We assess whether unconventional monetary and fiscal policy implemented in response to the COVID-19 pandemic in the U.S. contribute to the 2021-2023 inflation surge through the lens of several different empirical methodologies―event studies, vector autoregressions, and regional panel regressions using granular data―and establish a null result. The key economic mechanism works through a disinflationary channel in the Phillips curve while monetary and fiscal stimuli put positive pressure on inflation through the usual demand channel. We illustrate this negative supply-side channel both theoretically and empirically.
많이 본 자료
![[팀튜링의 디지털 오디세이] 제1화 UAM의 미래](/userdata/main/incContent/sideLink/19/aaaGHKBjsPPI5g31szc-y20240605110816byhta.png)
![[2024.04] 물가상승](/userdata/main/incContent/sideLink/20/aaaGHKBjsPPI5g31szc-y20240605111046bpogp.jpg)
