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The COVID-19 pandemic upended housing markets. This blog post launches an interactive chart that accompanies our research ...
Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for ...
Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...
Download Chart Data (CSV, 3 KB) Figure 1 divides annualized one-month changes in headline PCE inflation into contributions that can be determined as driven by supply versus demand, with the remainder ...
The unemployment rate has risen over half a percentage point since the second quarter of 2023. Individual survey data underlying the unemployment rate can help in assessing which labor market ...
We examine how the media’s systematic selection of reporting topics influences household responses to inflation news. In a model where households learn about inflation from news coverage, households ...
The Phillips curve plays a central role in the macroeconomics literature. However, there is little consensus on the forcing variable that drives inflation in the model, i.e., on the appropriate ...
Wildfires have been a concern in California for decades. The intensity of these events has increased recently, with particularly large and destructive fire seasons between 2018 and 2021. Analysis ...
Households accumulated more liquid assets beginning in 2020 than would have been expected without the pandemic. These “extra” liquid assets have dissipated, but their evolution has differed ...
Employment growth has consistently come in above pre-pandemic estimates of the rate needed for unemployment to stay near its long-run natural rate. Even so, unemployment has held steady, which raises ...
Extreme heat decreases labor productivity in sectors like construction, where much work occurs outdoors. Because construction is an important component of investment, lost productivity today will slow ...
With inflation still above the Federal Reserve’s 2% objective, there is renewed interest in understanding how quickly federal funds rate hikes typically affect inflation. Beyond monetary policy’s well ...