Inflation and real GDP growth in the U.S.—Demand or supply driven?

Jui-Chuan Della Chang, Dennis W. Jansen and Carolina Pagliacci

Economics Letters, 2023, vol. 231, issue C

Abstract: We compute the part of real GDP growth and inflation due to structural shocks to aggregate supply and demand. We find that the Covid recession and subsequent recovery in the U.S. were driven by both demand and supply shocks.

Keywords: Aggregate shocks; Sign restrictions; Supply and demand growth; Supply and demand inflation (search for similar items in EconPapers)
JEL-codes: C32 E31 E32 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:231:y:2023:i:c:s0165176523002999

DOI: 10.1016/j.econlet.2023.111274

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