Quantifying the Inflationary Impact of Fiscal Stimulus Under Supply Constraints
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This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy on U.S. inflation over the Dec-2019 to June-2022 period. Model calibrations show that aggregate demand shocks explain roughly two-thirds of total model-based inflation, and that
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美国国家经济研究局创建时间：
2023-01-01
