Quantifying the inflationary impact of fiscal stimulus under supply constraints / by Julian di Giovanni, Sebnem Kalemli-Özcan, Alvaro Silva and Muhammed A. Yildirim
Bibliografía.
This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy on US inflation over the December 2019 to 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.
POLITICA FISCAL
INFLACION
CONSUMO
RIQUEZA
MODELOS ECONOMETRICOS
Giovanni, Julian di
The American Economic Review 0002-8282 v. 113, May 2023, p. 76-80