Arbeitspapier
Quantifying the inflationary impact of fiscal stimulus under supply constraints
This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total aggregate demand effect.
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 1050
- Klassifikation
-
Wirtschaft
Macroeconomics: Production
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
- Thema
-
inflation
fiscal policy
supply constraints
Finanzpolitik
Wirkungsanalyse
Gesamtwirtschaftliche Nachfrage
Inflation
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Di Giovanni, Julian
Kalemli-Ozcan, Sebnem
Silva, Álvaro
Yıldırım, Muhammed Ali
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2023
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Di Giovanni, Julian
- Kalemli-Ozcan, Sebnem
- Silva, Álvaro
- Yıldırım, Muhammed Ali
- Federal Reserve Bank of New York
Entstanden
- 2023
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