Quantifying the Inflationary Impact of Fiscal Stimulus under Supply Constraints

Julian di Giovanni, Şebnem Kalemli-Özcan, Álvaro Silva and Muhammed A. Yıldırım

AEA Papers and Proceedings, 2023, vol. 113, 76-80

Abstract: 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.

JEL-codes: E21 E23 E31 E62 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: Quantifying the Inflationary Impact of Fiscal Stimulus Under Supply Constraints (2023)
Working Paper: Quantifying the Inflationary Impact of Fiscal Stimulus under Supply Constraints (2023)
Working Paper: Quantifying the Inflationary Impact of Fiscal Stimulus Under Supply Constraints (2023)
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DOI: 10.1257/pandp.20231028

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