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Research Briefs·Jul 20, 2023

Price Level and Inflation Dynamics in Heterogeneous Agent Economies

Greg Kaplan, Georgios Nikolakoudis, and Giovanni L. Violante
This work offers new insights into the effects of persistent fiscal deficits on US inflation, revealing that targeted income redistribution...
Topics: Financial Markets, Monetary Policy
Research Briefs·Feb 19, 2020

Markups, Labor Market Inequality and the Nature of Work

Odds are, when you think of workers in a modern industrialized economy, you imagine all kinds of jobs, from those...
Topics: Employment & Wages
Research Briefs·Feb 6, 2019

Dynamism Diminished: The Role of Housing Markets and Credit Conditions

Steven J. Davis
The Great Recession of 2007-09 raised several issues about the relationship of housing markets to economic activity. One issue concerns...
Topics: Economic Mobility & Poverty, Employment & Wages, Fiscal Studies, Monetary Policy
Research Briefs·Jan 15, 2019

The Aggregate Implications of Regional Business Cycles

Erik Hurst
The Great Recession of 2007-09 was the worst US economic downturn since the Great Depression, with the unemployment rate peaking...
Topics: Employment & Wages
Research Briefs·Jul 1, 2018

The Changing (Dis-)Utility of Work

From their earliest days, children are asked what they are going to be when they grow up, not what they...
Topics: Fiscal Studies
Research Briefs·Jun 27, 2018

Microeconomic Heterogeneity and Macroeconomic Shocks

Building a mathematical model of the economy is always difficult. But it becomes much easier if you assume that all...
Topics: Fiscal Studies
Research Briefs·Apr 1, 2018

The Transformation of Manufacturing and the Decline in U.S. Employment

In December 2017 the unemployment rate was 4.1 percent, far below its peak of 10 percent in October 2009 in...
Topics: Employment & Wages